Melbourne for capital
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.
Recommended for you
Professional services group AZ NGA has made its first acquisition since announcing a $240 million strategic partnership with US manager Oaktree Capital Management in September.
As Insignia Financial looks to bolster its two financial advice businesses, Shadforth and Bridges, CEO Scott Hartley describes to Money Management how the firm will achieve these strategic growth plans.
Centrepoint Alliance says it is “just getting started” as it looks to drive growth via expanding all three streams of advisers within the business.
AFCA’s latest statistics have shed light on which of the major licensees recorded the most consumer complaints in the last financial year.
