ANZ has announced Ross Bowden will step down from his role as general manager of superannuation and investments, with Craig Brackenrig to commence the role later this month.
Brackenrig will be responsible for all of ANZ’s core superannuation, investment and retirement solutions, as well as handling the development of existing and new platform offerings.
He has over 25 years of experience in the industry, and most recently worked internationally for Aviva as financial director of the Asia Pacific region.
Brackenrig commence his role on 18 April and will report to ANZ Wealth managing director John Van Der Wielen.
“Craig’s strong record in managing large-scale technology and business change will be a valuable asset for ANZ as we develop and implement next generation investment and platform solutions for our customers,” said Van Der Wielen.
ANZ stated that Bowden decided to leave the business after more than 20 years working across RetireInvest, Mercantile Mutual, ING Australia and OnePath.
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.