Gov’t seeks interest in new finance school
By John Wilkinson
The Victorian Government has officially launched the Melbourne Centre of Financial Studies as part of its campaign to raise the financial services profile of the state, both nationally and abroad.
According to Victorian Minister for Export, Financial Services Industry Tim Holding, the centre will specialise in leading-edge finance and investment research by undertaking projects in areas such as superannuation, tax, the housing market, resources and biotechnology.
“It will promote Melbourne’s finance research capability, as well as raise the profile of Victoria’s world-class higher education sector,” Holding says.
The centre will also be required to promote greater collaboration between higher education establishments and the financial services industry through training opportunities, scholarships and the establishment of a fellowship program.
In addition, it will aim to promote Melbourne as a financial services industry centre for both Australia and Asia.
The State Government is seeking expressions of interest from professional bodies and associations, higher education institutions and consortia from the public and private sectors to run the centre.
The Government is providing $1.8 million to support the project in its initial phase and expects the project to be self-funding after two years.
According to Government documents, parties interested in running the centre will have to demonstrate the financial sustainability of the centre beyond year two.
The new research centre is expected to be up and running by March 2005 and submissions close on August 16.
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
