Financial Services Council – A bigger voice on the economy

At an Extraordinary General Meeting held yesterday in Sydney, members of the Investment & Financial Services Association (IFSA) voted to change the organisation’s name to the Financial Services Council and adopted an expanded mandate to more actively engage in economic policy in Australia.

The Financial Services Council is the national peak body representing the $1.4 trillion retail and wholesale funds management, superannuation and life insurance industries.

David Deverall, Chairman of the Financial Services Council, said the wider focus was critical and much more than a simple name change.

“Financial Services is the largest sector in the Australian economy – it is responsible for managing the savings of all working Australians and facilitating investment throughout all industries. We have an obligation to speak on broader economic policy issues that affect the nation.

“The Financial Services Council will continue to be a strong voice on behalf of fund the funds management, superannuation and life insurance industries,” Mr Deverall said.

Chief Executive of the Financial Services Council, John Brogden, said the size and significance of the Financial Services sector in the Australian economy would continue to grow.

“The Financial Services Council will work with government, regulators and other stakeholders to ensure Australia has the best investment, regulatory and business environment for the $1.4 trillion we invest now, and the $5 trillion we will invest in twenty years time, for all Australians.

“The new Financial Services Council takes seriously the responsibility for managing the savings of all Australians and facilitating capital flows. We will continue to work on the issues that enhance the domestic investment environment and assist in building the retirement savings, wealth and ultimately the lifestyles of all Australians,” Mr Brogden concluded.

Financial Services Council – Full Members:

• Aberdeen Asset Management Limited
• AllianceBernstein Australia Limited
• Allianz Australia Life Insurance Limited
• AIA Australia Ltd
• AMP
• Amundi Asset Management Australia Limited
• Australian Ethical Investment Ltd
• Australian Market Quotation (Ausmaq) System Ltd
• Australian Securities Limited
• Australian Unity Funds Management Limited
• Aviva Investors Australia Limited
• Aviva Australia
• AXA Australia
• Banksia Financial Group
• Bennelong Funds Management
• BlackRock Asset Management Australia Limited
• BlackRock Investment Management (Australia) Limited
• BNP Paribas
• BNY Mellon Asset Management
• BT Financial Group
• Celsius Investments Australia Limited
• Challenger Managed Investments Limited
• Clearview Retirement Solutions
• Colonial First State Investments Limited
• Columbus Capital Funds Management P/L
• Columbus Investment Services Limited
• Credit Suisse Investments (Australia) Limited
• Deutsche Asset Management (Australia) Limited
• DirectMoney Pty Ltd
• Equity Trustees Limited
• FIL Investment Management (Australia) Limited
• Franklin Templeton Investments Australia Limited
• Galileo Group
• General Reinsurance Life Australia Ltd
• GE Money
• Goldman Sachs Asset Management Australia
• Guild Financial Services Limited
• Hannover Life Re of Australasia Ltd
• IAG Asset Management Limited
• ING Australia Limited
• International Underwriting Services Pty Ltd
• INVESCO Asset Management Australia Limited
• Investec Investment Management Limited
• IOOF Investment Management Limited
• Janus Capital Asia Limited
• La Trobe Financial Services Pty Limited
• Legg Mason Asset Management Australia Limited
• Lifeplan Funds Management
• Macquarie Investment Management Limited
• Maple-Brown Abbott Limited
• Mercer
• Metlife Insurance Limited
• MLC Limited
• MMC Contrarian Limited
• Munich Reinsurance Company of Australasia Limited
• Naos Asset Management Limited
• Netwealth Investments Limited
• New South Wales Treasury Corporation
• Perpetual Investment Management Limited
• Plan B Trustees Limited
• Prime Value Asset Management Limited
• Principal Global Investors (Australia) Ltd
• Professional Investment Services Group
• Putnam Investments Australia Pty Limited
• Q Invest Limited
• QIC Limited
• RGA Reinsurance Company of Australia Limited
• Russell Investment Management Ltd
• Sandhurst Trustees
• Schroder Investment Management Australia Limited
• St George Group
• Standard Life Investments (Asia) Limited
• State Street Global Advisors Australia
• State Trustees Limited
• Suncorp Life
• Sunsuper Pty Ltd
• Swiss Re Life & Health Australia Limited
• TOWER Australia Limited
• Trust Company of Australia Limited
• UBS Global Asset Management (Australia) Ltd
• Uniting Growth Fund Limited
• Vanguard Investments Australia Limited
• Wellington International Management Company Pte Ltd
• Westfield Management Limited
• Zurich Australia Limited