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Hazel McNeilage
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The big Queensland institution, QIC, has made a key appointment with Hazel McNeilage being appointed to the position of head of funds management.
McNeilage is joining QIC from Principal Global Investors in New York and will take up her new role in January.
Commenting on the appointment, QIC chief executive Doug McTaggart said McNeilage would be responsible for driving the company’s investment boutiques and would report directly to him.
McNeilage joined Principal Global Investors in 2001 after spending 14 years with Towers Perrin in Australia, including head of asset consulting.
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.