NSW designates financial services precinct
The NSW Government is continuing its push for Sydney to be the financial services hub for the Asia Pacific and has designated Barangaroo to become Australia’s version of London’s Canary Wharf.
The NSW Government outlined the ambitious proposal during a financial services summit in Sydney on Friday, where NSW Minister for State Development Ian MacDonald said the State was targeting key global financial institutions to attract investment to Sydney.
He said the State Government was committed to developing Barangaroo as a potential future financial services precinct for NSW, Australia and the region.
“We are aiming to create Australia’s version of Canary Wharf or the Dublin Docks financial precinct,” MacDonald said.
The State Minister’s comments came after Federal Assistant Treasurer, Chris Bowen, said that both the Federal and NSW Governments were focused on promoting the financial services sectors in what he described as the key international markets of the US, China and India.
AUTHOR
Mike Taylor
Recommended for you
BT is to launch a new low-cost “Focus” investment menu for its Panorama platform this October, in partnership with Vanguard, seeking to compete with industry superannuation funds.
Net gains of financial advisers have already doubled since the start of FY25, according to this week’s Padua Wealth Data, with momentum gathering pace far faster than the previous financial year.
National advice firm MiQ Private Wealth has appointed a new chief executive to lead the business through a “transformative era” after penning a partnership deal with AZ NGA earlier this month.
WT Financial’s managing director, Keith Cullen, believes the firm’s Hubco model with Merchant Wealth Partners will be a “repeatable growth model” for the business as it scales its adviser numbers.
