The Investment and Financial Services Association has formally adopted its new name and broader agenda this week as it becomes the Financial Services Council (FSC).
The name change is intended to reflect the FSC’s expanded agenda in representing the interests of the financial services sector as it seeks to ‘… more actively engage in economic policy in Australia’.
FSC Chairman, David Deverall, said the FSC’s wider focus was critical and much more than a simple name change. He said that because Financial Services is the largest sector in the Australian economy, it has 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,” said Mr Deverall.
In announcing the name change and expanded agenda in June, FSC CEO, John Brogden, highlighted a number of issues on which the Financial Services Council would focus:
- Advocating a ‘Big Australia’. Our population must be capable of driving future economic growth, keeping a cap on wages and inflationary pressures; and reducing the pressures of an ageing population.
- Championing real tax reform. The GST is unfinished business and inefficient state taxes must be removed.
- Increasing participation rates - particularly for older workers. We must make greater use of the existing population.
- Advocating improvements to our regulatory environment whilst resisting the adoption of unnecessary and reactionary US and European regulation that will harm the Australian economy.
”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,” said Mr Brogden.
See below for a full list of FSC member organisations:
- 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 MoneyGoldman 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
