BT Financial Group has made two key institutional appointments, with Patrick Farrell becoming head of investments and Melanie Evans becoming head of superannuation in the superannuation and investment solutions team.
The appointments result from the merger of Westpac and St George.
Prior to joining St George, Farrell was head of multi-manager and tactical asset allocation at IAG Asset Management, while Evans has led BT’s personal superannuation business since 2007.
Evans will be responsible for corporate and retail superannuation, retirement and BT Super for Life.
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.