POWERED BY MOMENTUM MEDIA
JP Morgan appoints head of transition management
JP Morgan Treasury & Securities Services has appointed Patrick Fanning as head of transition management for the firm's Australia and New Zealand business.
Fanning's appointment is the latest addition to the bank's growing Financing & Markets Products (FMP) division in the Asia-Pacific, following the recent announcement of Stewart Cowan as head of FMP for Australia, New Zealand and Japan, and Michael Wynn joining the Australian transition management sales desk.
Fanning has spent the past 10 years with Citigroup Global Markets, where he managed over 250 transitions including some of the largest carried out in the region. Based in Sydney, he would report to Rob Saffer, global head of transition management.
Saffer said Fanning's "proven ability to innovate and deliver exceptional execution" would make him "instrumental" in further building the franchise in ways that would "benefit the firm's clients and spur the further growth of the transition management business in Australia and New Zealand". In 2010, the team was responsible for managing over $180 billion worth of transitions.
Cowan added that Fanning was "highly regarded within the superannuation and funds management industry" and would bring "unrivalled commitment" to JP Morgan's clients in Australia and New Zealand.
AUTHOR
Angela Welsh
Recommended for you
The two funds have announced the signing of a non-binding MOU to explore a potential merger.
The board must shift its focus from managing inflation to stimulating the economy with the trimmed mean inflation figure edging closer to the 2.5 per cent target, economists have said.
ASIC chair Joe Longo says superannuation trustees must do more to protect members from misconduct and high-risk schemes.
Super fund mergers are rising, but poor planning during successor fund transfers has left members and employers exposed to serious risks.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
88.01 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
72.60 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
44.46 3 y p.a(%)
4
Pengana High Conviction Equities B
39.12 3 y p.a(%)
5
Pengana High Conviction Equities A
39.05 3 y p.a(%)
