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QIC appoints two new directors
QIC has announced the appointment of David Usasz and Grant Murdoch to its board of directors.
Commenting on their appointment, QIC chairman Peter Young AM said Usasz and Murdoch are well respected in the business community. Their commercial insight and extensive experience would be an asset to the company.
Usasz has more than 30 years' experience in financial services, having served as a partner at PricewaterhouseCoopers between 1987 and 2007. He was also a registered tax agent for more than 25 years and worked extensively with Japanese and Chinese investors in Australia.
Murdoch has over 37 years of chartered accountancy experience, and for the last eight years headed the corporate finance team for Ernst & Young Queensland. He has been the Ernst & Young transaction advisory services Brisbane leader since April 2004, including leading the engagement team in the recent $3 billion sale of Queensland Motorways and Golden Casket.
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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.
Big business has joined the chorus of opposition against the proposed Division 296 tax.
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