QIC restructures
Big Queensland-based institutional investment house QIC has restructured itself away from what it describes as the traditional asset class-based structures to three business lines.
The restructure was announced today by QIC chief executive Doug McTaggart, who said the three business lines would be QIC Asset Management, QIC Private Capital and QIC Investment Services.
Residing inside QIC Asset Management will be three investment divisions — Asset Management, Strategy and Capital Markets.
Commenting on the move, McTaggart said the driver behind the restructure was making better investment decisions through greater information sharing and coordination across diverse asset classes.
“The new structure removes artificial constraints providing better return and cost outcomes for our clients,” he said.
McTaggart said structuring teams by investment strategy brought complementary skills and research functions together with the aim of generating better risk-adjusted returns for clients.
He said the structure also created clear career progression paths that would help QIC to retain and attract high calibre investment professionals.
AUTHOR
Mike Taylor
Recommended for you
AZ NGA has partnered with an Adelaide-based accounting and financial planning practice as it expands its presence in South Australia.
The central bank has released its decision on the official cash rate following its November monetary policy meeting.
ASIC has cancelled the AFSL of a Melbourne-based managed investment scheme operator over a failure to pay industry levies and meet its statutory audit and financial reporting lodgement obligations.
Melbourne advice firm Hewison Private Wealth has marked four decades of service after making its start in 1985 as a “truly independent advice business” in a largely product-led market.
