The FSC recently announced that the Investment Board Committee had been reconstituted into the Fund Management Board Committee (FMBC), which is supported by the Investment Expert Group (IEG).
The FMBC is responsible for driving the strategic policy direction for the Australian funds management sector, supported by the IEG - which focuses on technical funds management issues.
The purpose of the reconstitution was to refresh the FSC’s funds management focus and strengthen member engagement. We are extremely pleased that so many of our fund manager members have nominated for the FMBC and the IEG, all with the aim of advancing and strengthening the industry in the interest of stronger outcomes for investors and financial services more broadly.
The FMBC and the IEG include a diverse cross-section of FSC fund manager members, consisting of 19 CEO and Country Head fund manager members on the FMBC and 12 funds management executives - including Chief Investment Officers and Chief Operating Officers, on the IEG. Together the FMBC and IEG have the combined advantage of great depth of knowledge and experience to help drive policy, awareness of the critical role of funds management in the economy, and the future direction of the sector in Australia.
In addition to refreshing the FSC’s funds management focus, the FSC has also strengthened funds management representation on the Board. We have four new FMBC fund manager appointees including;
- Andrew Landman from BlackRock Asset Management Australia;
- Bryce Doherty from UBS Asset Management;
- Jen Driscoll from AllianceBernstein Australia; and
- Liz Hastilow from First Sentier Investors.
The four new Directors bring a diverse mix of experience in global and domestic funds management leadership to the Board.
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We asked the four Directors to share some personal and professional insights with us, take a look below for more.
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Andrew Landman – Head of Australasia, BlackRock Asset Management Australia
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I left Hong Kong six months ago, after five years overseas, and relocated to Australia following an incredibly interesting time in Hong Kong and having access to understanding the developments in financial services in China. We arrived during the worst of the bushfires, and pre COVID-19. An interesting timing indeed, but I remain committed to helping shape the industry through the work of the FSC.
Now, perhaps more than ever, bringing that global experience and perspective can only benefit the industry in Australia during these increasingly challenging and uncertain times. From our specific vantage point at BlackRock, the global perspectives we provide are so critically important and enable our clients and teams to be truly global, but also remain locally relevant. I look forward to contributing that perspective through the work of the FMBC.
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Liz Hastilow – Chief Legal and Risk Officer and Managing Director, Australia and New Zealand, First Sentier Investors
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I joined First Sentier Investors as Chief Legal and Risk Officer in 2017, after leading teams of investment management partners and lawyers in Australia and globally. I wanted to be part of building something unique in this market – something that would deliver sustainable investment success for clients in an environment where people want to work.
This is underpinned by an unwavering commitment to responsible investment, and a diversity and inclusion commitment that I am proud to be part of.
In May this year, I was appointed Managing Director, Australia and New Zealand while maintaining global responsibility for the legal, governance, risk management and compliance functions.
In terms of the industry, right now is a critical time for the Australian and global economy - and our clients are looking for more information and reassurance from us than ever. We have a strong investment management industry in Australia, one that is the envy of many other countries, and our industry can play an important role in helping in our economic recovery.
As a significant participant in the investment management industry, we have a role to play in advocating for policy and regulatory development that more effectively supports smart, responsible and sustainable investment and the way investment management services are provided to our clients, which is why First Sentier Investors has joined the FSC.
A key focus for us in these discussions will be ESG and corporate social responsibility. There is an increasing regulatory focus around the world on how corporates are adopting and reporting on ESG and corporate social responsibility initiatives. Our industry plays an important role in advocating for change through how and where we invest on behalf of our clients, which also ties directly into our vision to be led by our responsible investment principles. We are already playing a leading role in modern slavery advocacy in Australia, and I am keen to showcase this and other important matters through our FSC involvement.
Through our involvement with the FSC, we will be able to work with Federal and State Governments and our regulators to enhance the universe of sustainable investment opportunities and make it easier for clients to access the investment skills and expertise in our industry. We can create an environment that encourages and supports sustainable business in which we, as investors, as fiduciaries of our clients’ money, will be able to invest and through investment, support the economic recovery.
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Jen Driscoll – Chief Executive Officer for AllianceBernstein (AB) Australia
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We asked Jen to share some insights on the impact of COVID-19 on funds management and investors, as well as the critical role the Fund Management Board Committee plays in putting forward a collective voice to benefit the industry and Australia.
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Bryce Doherty – Head of Australia & New Zealand, UBS Asset Management
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Here, Bryce shares a broad range of insights, including the basis for forming the Fund Management Board Committee and why it's important for all fund managers in Australia to be involved with this Committee.
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