Kung Hei Fat Choy! Welcome to issue 7 of Investment Intel: Australia where we have curated the latest news and insights on the Australian market.

Wishing all our readers, friends and partners a happy, healthy and successful Year of the Dragon. May it bring strength, peace and success to all.

Best wishes,

David Thomas
APAC Financial Services
Email: davidthomas@apacfinancialservices.com

Current News and Insights

Over the past week a number of senior appointments have been announced. NAB has announced that Andrew Irvine, who has served as the bank’s group executive business and private banking will succeed outgoing CEO Ross McEwan on 2 April (read more here).  Insignia Financial announced former AMP CEO, Scott Hartley, has been appointed CEO, replacing Renato Mota, who departs in February (read more here). In addition, Aware Super has revamped its executive team, and appointed Sally Collins as COO, effective 2 April (more here).

Australia’s Reserve Bank has left interest rates unchanged. This announcement follows changes implemented in response to an independent review of the bank commissioned by Federal Treasurer, Jim Chalmers. Further information can be found here.

Australian investors were net sellers of equity funds in 2023 preferring fixed income funds which saw a five-fold increase in 2023. Read more here and here.