The Investment and Financial Services Association (IFSA) has named its board following the group’s annual general meeting last week.
Perpetual managing director David Deverall remains as chair, while Vanguard Investments managing director Jeremy Duffield and Peter Maher, group head — banking and financial services group at Macquarie Bank, share the position of deputy chair.
Greg Cooper, chief executive of Schroder Investment Management, and Anne O’Donnell, managing director of Australian Ethical Investment, will replace long-standing IFSA board members Maurice O’Shannassy and Justin Wood.
O’Shannassy has been awarded honorary membership of IFSA for life after serving as an inaugural member for 11 years, IFSA chief executive Richard Gilbert said.
IFSA’s board members for 2008-09 are:
* Michael Bargholz, chief executive officer, AllianceBernstein Australia;
* Brian Bissaker, chief executive officer, Colonial First State Investments;
* Robert Coombe, chief executive officer, BT Financial Group;
* Greg Cooper, chief executive officer, Schroder Investment Management Australia;
* Allan Griffiths, chief executive officer, Aviva Australia;
* Warren Lee, chief executive officer — Australia, AXA Australia;
* Geoff Lloyd, group executive of wealth management, St George Bank;
* Craig Meller, managing director, AMP Financial Services;
* Anne O’Donnell, managing director, Australian Ethical Investment;
* Steve Tucker, chief executive officer, MLC Australia; and
* Maria Wilton, managing director, Franklin Templeton Investments Australia.
A major super fund has defended its use of private markets in a submission to ASIC, asserting that appropriate governance and information-sharing practices are present in both public and private markets.
A member body representing some prominent wealth managers is concerned super funds’ dominance is sidelining small companies in capital markets.
Earlier this month, several Australian superannuation funds fell victim to credential stuffing attacks, which saw a small number of members lose more than $500,000.
Small- to medium-sized funds have become collateral damage in an "imperfect" model for super industry levies, a financial institution has said.