Russell ups industry fund offering

compliance industry funds chief executive

image
image
expand image

Russell Investments has expanded its industry and government fund offering, with the appointment of a new sector head and the launch of a new consulting service.

Russell Future Proofing Consulting (RFPC) will offer advice and solutions to assist industry and government funds retain members during this period of regulatory change.

Chief executive for Australasia, Chris Corneil (pictured), said the service would help funds with governance issues, developing retirement solutions for members and MySuper requirements.

He said one of the major issues for funds leading up to legislative change has been the prospect of scale requirements for MySuper products, which has left some funds feeling that mergers are the only option.

Corneil said one alternative could be keeping the existing fund but outsourcing fixed costs, while areas like product development and member services can be made more cost-effective.

To lead this new service, Russell has appointed Michael Clarke as managing director, industry and government funds.

Clarke will lead a team of 15 and will be responsible for the specific needs of the firm’s industry and government fund clients.

He comes to the role from AMP Capital Investors where he most recently held the position of executive vice president and director, international.

Homepage

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

1 month 2 weeks ago

This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...

1 month 2 weeks ago

Interesting. Would be good to know the details of the StrategyOne deal....

1 month 3 weeks ago

SuperRatings has shared the median estimated return for balanced superannuation funds for the calendar year 2024, finding the year achieved “strong and consistent positiv...

6 days 14 hours ago

Six of the seven listed financial advice licensees have reported positive share price growth in 2024, with AMP and Insignia successfully reversing earlier losses. ...

3 weeks 5 days ago

Specialist wealth platform provider Mason Stevens has become the latest target of an acquisition as it enters a binding agreement with a leading Sydney-based private equi...

3 weeks 4 days ago

TOP PERFORMING FUNDS