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Tasmanian superannuation fund Quadrant has appointed Stephen Thomas to the newly-created position of general manager, fund operations and technology.
Thomas has more than 20 years experience in the superannuation industry including senior management positions in operations and IT.
His most recent position as an executive director of Synergy Capital Management included responsibility for the management of investments administration for a $2 billion portfolio and project program management. Thomas also previously held management roles across member account administration, client services, and IT.
“Quadrant’s commitment to building and maintaining strong relationships with its membership and the fact that members directly benefit from the fund, rather than shareholders or financial advisers, is just one of the reasons I was drawn to the role,” Thomas said.
The newly-created position is aimed at driving technology led improvement in member services and developing scalable business systems to support the growth of Quadrant, according to chief executive Wayne Davy.
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.