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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:

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