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Chris Corneil |
Russell Investments has added 20 new specialists as part of a range of expanded services in response to increased client demand and growth in core service lines.
"The changes mark an important new phase for Russell's business in the local market," said the managing director for Russell Investments in Australia and New Zealand, Chris Corneil.
"Against the backdrop of a changed global financial services and investing landscape, our growing team of specialists is focused on developing innovative solutions, revisiting and redefining old models, seeking new and exciting investment opportunities and finding better ways to serve customers," he said.
Key appointments include director of actuarial and benefits consulting Steve Schubert as managing director, superannuation, replacing Linda Elkins; and Geoff Peck, Russell's director of superannuation, who has been appointed managing director, government and institutions.
Russell's core services expansion includes six new positions that will be added to investment consulting, the addition of an exchange traded funds team and the addition of five new retail roles in response to increased self-managed superannuation fund demand.
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.