Mercer Human Resource Consulting has appointed Gary Burke as the new head of its funds-of-managers business, Mercer Global Investments.
Mercer Global Investments is a new division of Mercer which will be responsible for implemented consulting and multi-manager investment products.
Burke has more than 16 years experience in investment management, research and related financial services. This experience has included periods as CIO at both Zurich Scudder and Deutsche Funds Management, and earlier experience at Rothschild as head of portfolio management. Prior to this, Burke was state manager for research company Assirt.
Recently-established Bravura Solutions Limited has moved closer to finalising its management team with a key appointment to the senior executive team.
Nicholas Sorger has been appointed head of strategy and product marketing — pensions and superannuation, following an extensive search. The role reports directly to CEO, Iain Dunstan.
“Nick brings with him a depth of knowledge of the wealth management market not only in Australia but also Asia, as a result of positions held most recently with KAZ Group Limited (A Telstra company) and prior to that with Financial Synergy,” said Dunstan.
Michael Massingham, head of securities services at Citigroup Global Transaction Services, was elected chair of the Australian Custodial Services Association at its annual general meeting in Sydney in late November. The previous chair Graeme Arnott of JP Morgan, retired after three years in the position.
The Australian Custodial Services Association membership presides over in excess of A$800 billion in assets under custody, processing in excess of 3.5 million trades per annum.
Others elected include David Travers (deputy chair) from State Street, Graeme Arnott from JPMorgan, Gail Burke from BNP Paribas, Patrick Liddy from National and Barry Dench (treasurer) from Westpac.
Navigator has appointed Gwyn Jones to the role of product manager corporate superannuation.
Group director, products, marketing and public affairs, Rob Donaghy said corporate superannuation is a fundamental area of Aviva business, and Jones’ appointment highlighted the company’s ongoing commitment to employers and their staff.
Before joining Navigator, Jones held senior roles with Plum Financial Services. He has worked in fund administration and business analysis, along with leading the development of corporate superannuation offers.
In his new position, Jones is responsible for pro-active product management for Navigator’s corporate superannuation to ensure the growth of this continually developing market.
Commenting further on Jones’ appointment, Donaghy said: “Gwyn has extensive experience in corporate superannuation and I believe this will be invaluable for Navigator. I welcome him to the team and look forward to working closely with him.”
Australian super funds have delivered mixed results in the latest global rankings, with industry funds climbing, while government schemes fell sharply.
The Future Fund posted a $27.4 billion increase in value to $252.3 billion, driven by strong equity markets, resilient private market investments, and strategic portfolio shifts to anticipate changing global trading conditions.
The fund has introduced new portal features for advisers, streamlining administration and enabling quicker, more convenient client authorisations online.
APRA-regulated funds have reportedly raised concerns with the government over Division 296, as news of potential policy tweaks makes headlines.