Russell Investments has made two key additions to its global consulting division in the Asia-Pacific region.
Frank Russo has been appointed a senior consultant at Russell Consulting in Australia and will be based in Melbourne.
He joins from independent asset consultant Access Capital Advisers, where he served on the board of the AMP Infrastructure Fund of India and as the investor representative on several investment advisory committees. Russo previously held senior positions at Equipsuper and Westpac Banking Corporation.
In a second move, Trevor Persaud has been appointed as a practice leader for consulting and advisory services in ASEAN, India, Hong Kong and Taiwan. In his role, Persaud will lead the strategic development and delivery of investment consulting services for Russell’s clients in the region, encompassing investment advisory, asset allocation, strategic asset tilting, risk management and portfolio construction. He will be based in Singapore.
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.