Melbourne bids for financial capital status
The Victorian State Government is forming a committee from the financial services industry to push Melbourne as a regional financial centre.
The Victorian State Government is forming a committee from the financial services industry to push Melbourne as a regional financial centre.
The Financial Industry Consultative Committee will promote Melbourne’s competitive advantages to financial services companies, says Minister for State and Regional Development, John Brumby.
“The State Government is determined to promote Melbourne aggressively as a centre for financial investment,” he says.
“The previous government made it clear that it was not prepared to develop Melbourne’s capacity as a regional centre for global financial services, but we are determined to secure a bigger share of investment and jobs in this sector.”
The areas being targeted for setting-up operations in Melbourne are funds management, venture capital and superannuation.
Brumby cites the fact Melbourne already is the headquarters for two of the big four banks — NAB and ANZ — and global fund managers like HSBC, Salmon Smith Barney and Morgan Capital.
The government has not announced any time-scale for forming the committee nor if any budget has been allocated to the campaign.
AUTHOR
Recommended for you
As the government announces a public inquiry into the collapse of Dixon Advisory, risk adviser Richard Silberman has detailed the three areas that typically lead to an AFSL's collapse.
With a growing number of advisers now running their own business, they need to pivot their career identity to being a business owner rather than just as a financial adviser if they want to futureproof their business.
Zenith Investment Partners has launched a range of new managed account portfolios over the past quarter, including on Insignia Financial’s Expand platform.
The financial services technology firm has officially launched its digital advice and education solution for superannuation funds and other industry players.
