Following an internal structure review, the Australian arm of UK-based Aberdeen Asset Management has integrated the retail and institutional sides of its business development and client services teams.
Stuart James has been appointed to the newly created role of deputy head of distribution. He will continue to be the local representative of Aberdeen’s international equity offerings in Australia.
James has 15 years experience with Aberdeen and will report to managing director and head of distribution Brett Jollie.
Alex Haynes has been promoted to head of business development, and Amanda Young will move into the role of client services.
Haynes was previously the head of Aberdeen’s retail business development team, while Young was head of institutional client services. Haynes and Young will both report to James.
Stephen Dennis, who was previously head of institutional business development, has left Aberdeen.
The restructure will better align the distribution efforts of Aberdeen, and will make more efficient use of the skills of the entire team, according to Jollie.
“Meeting the needs of our clients remains our number one priority, and having the right people and structures in place is the best way of ensuring we continue to deliver this,” Jollie said.
Large superannuation accounts may need to find funds outside their accounts or take the extreme step of selling non-liquid assets under the proposed $3 million super tax legislation, according to new analysis from ANU.
Economists have been left scrambling to recalibrate after the Reserve Bank wrong-footed markets on Tuesday, holding the cash rate steady despite widespread expectations of a cut.
A new Roy Morgan report has found retail super funds had the largest increase in customer satisfaction in the last year, but its record-high rating still lags other super categories.
In a sharp rebuke to market expectations, the Reserve Bank held the cash rate steady at 3.85 per cent on Tuesday, defying near-unanimous forecasts of a cut and signalling a more cautious approach to further easing.