Russell Investments has hired a number of specialists to provide focused resources for industry and Government super funds, as well as non-superannuation financial institutions.
Mark Plimley and Divyesh Bhana will be directly responsible for growing and servicing industry and Government super funds and financial institution clients.
Plimley has been appointed to the new role of senior business development manager for financial institutions. He joins Russell from UBS Asset Management where he was worked as director, consultant relations manager.
Bhana has been appointed consultant relationship manager from BNP Paribas Securities Services. She will be responsible for managing Russell's relationship with industry 'influencers' to ensure they are aware of Russell's capabilities, Russell stated.
Existing Russell senior business development manager Ty Thurgood will be responsible for working with all non-corporate super funds.
Russell's chief executive for Australia and New Zealand, Chris Corneil, said Russell was also actively recruiting for a senior business development manager to drive further growth within the firm's corporate superannuation business.
"We are fully committed to corporate super, it's the backbone of our business and an area we will continue to focus on. We are also always looking at ways in which we can strengthen the reach of our solutions to address the specific challenges facing other industry groups," he said.
The two funds have announced the signing of a non-binding MOU to explore a potential merger.
The board must shift its focus from managing inflation to stimulating the economy with the trimmed mean inflation figure edging closer to the 2.5 per cent target, economists have said.
ASIC chair Joe Longo says superannuation trustees must do more to protect members from misconduct and high-risk schemes.
Super fund mergers are rising, but poor planning during successor fund transfers has left members and employers exposed to serious risks.