Income Asset Management (IAM) has hired former ASIC commissioner Danielle Press to its board as a non-executive director.
Press has been working with the firm for several months in a consultancy capacity and has now been formally appointed as a non-executive director to its board.
IAM highlighted Press’s “extensive experience in capital markets, asset management and financial services regulation”, having spent five years at ASIC, having previously worked as managing director of Equip Super and director CEO of UBS Global Asset Management.
This is her second role after ASIC as she also chairs the superannuation boards of Insignia Financial, which she took up in September. Insignia’s directors include IOOF Investment Management, NULIS Nominees (Australia), OnePath Custodians and Oasis Fund Management. Together, these entities are responsible for five registrable retirement entities, including MLC Super and AvWrap.
John Nantes, Executive Chairman of IAM, said: “We are delighted to welcome Danielle to the Board, given her extensive experience in financial services, investment banking, governance, regulatory and risk management and fixed income, within private and government organizations.
“Danielle joins the board at an exciting time in IAM’s growth trajectory, as the company has more than $2 billion in FUA bonds and loans and more than 2,200 wholesale customers, which the $18 million capital raise has just been completed and a $4 million cost reduction program is well underway. advance.”
Press commented: “I am delighted to join the IAM Board of Directors. Providing client-led fixed income solutions to wholesale and retail investors has never been more important as the tsunami of money from people entering retirement accelerates. The ability to invest in income-generating assets will be a priority for many people and, as such, access to fixed income in all its forms will be essential.
The company said his appointment coincides with the launch of two unique bond ETFs on Cboe, making corporate bonds such as Tier 2 bonds accessible to retail investors in Australia.
Both ETFs will provide economical exposure to the interest yields and capital preservation of Westpac and Commonwealth Bank’s high quality bank subordinated debt.
The press has noted that there is an inherent gap in the straight bond ETF market.
“With the Single Bond ETFs, we are responding to the growing appetite of Australian investors for fixed income products that have lower volatility than equities and a higher level of income than cash and term deposits,” she declared.
“With the hybrid market phasing out, this is a great opportunity for investors to continue to access predictable income with minimal risk of capital loss,” she said.
