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Sub-prime career aspirations
By Rollover's reckoning, the chairman of the Australian Securities and Investments Commission (ASIC), Greg Medcraft, must by now be contemplating the fact that he has only another 12 months to go before his five-year contract expires.
Well, if Medcraft isn't thinking about the sun setting on his tenure, then Rollover knows one or two superannuation industry luminaries who are.
Now logic might dictate that those intimate with the superannuation industry would be more enamoured of a role at the Australian Prudential Regulation Authority than ASIC, but as everyone knows, Wayne Byres, settled the executive ranks of the prudential regulator many months ago.
Medcraft was appointed while former Labor Treasurer, Wayne Swan, was in office and it has been speculated that he might not be entirely to the taste of a Coalition Government. However, Rollover believes the diminutive former Societe Generale is in favour with the Liberal Party pragmatists for his embrace of a user-pays model for the regulator.
Could this mean a sub-prime outcome for the superannuation industry aspirants?
AUTHOR
The Rollover
Rollover is a jaded hack who joined the staff of Super Review nearly two decades’ ago and never managed to summon the energy to leave. Known throughout the superannuation industry as a power-luncher and gossip, Rollover spends his time humouring fund managers, eavesdropping at conferences, dozing through briefings and looking for his next free meal.
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As a history buff, Rollover is well-aware of the importance of the role the vanguard plays in a military force, as the leader at the front of battle.
Now that crypto investing is mainstream, with Rest Super announcing it will put a portion of its funds into it, Rollover wonders whether his grandkids will think he is hip when he shows them his crypto balance in his new digital wallet.
Rollover is almost as fascinated by superannuation fund mergers as the deputy chair of the Australian Prudential Regulation Authority (APRA), Helen Rowell.
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