Pendal Group has posted a 17 per cent rise in cash profit to $201.6 million for fiscal 2018, a result which the asset manager formerly known as BT Investment Management said represented six years of uninterrupted growth in funds under management (FUM).
Franklin Templeton has appointed Vivian Sun as senior director of institutional business, where she would be responsible for managing and building relationships with institutional investors in Australian and New Zealand.
Westpac has acknowledged it did not fully appreciate the risks in its financial planning business leading to the situation which was revealed by the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.
The Commonwealth Bank (CBA) has earmarked late 2019 for completing the demerger of its wealth assets – Colonial First State, Count Financial, Financial Wisdom and Aussie Home Loans – after it today released a September quarter trading update revealing an unaudited statutory net profit of $2.45 billion.
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