Big industry fund Equipsuper has appointed deputy head of risk at UBS Global Asset Management (Australia), Danielle Press, as its new chief executive officer.
The appointment has been confirmed by Equipsuper chief executive Andrew Fairley.
Commenting on the appointment, Fairley said that at a time when the superannuation industry was being encouraged to seek opportunities for collaboration between funds and even mergers, Equipsuper considered Press’s experience in strategic planning to be an enormous asset.
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.