Fund Company Update

WTW combines APAC business

Willis Towers Watson (WTW) is joining its Australiasia and Asian businesses, with Simon Weaver, current head of Australasia to lead. Weaver will also retain the role of head of corporate risk and broking. Weaver has been with WTW since 2015. Head of Asia Claire Muhiudeen will retire as part of the restructure.

AvSuper merger update

AvSuper has confirmed a possible merger with Commonwealth Super Corporation is progressing, with due diligence nearing completion. The next step is approval for a successor fund transfer.

JANA buys Insignia

JANA now owns the entirety of asset consultant Insignia, buying the 45 per cent stake own by Insignia Financial after its acquisition of MLC. A binding share sale agreement has been signed. Insignia will remain a client of JANA.

Pendal acquisition complete

Perpetual has confirmed the successful acquisition of Pendal after a few hiccups early on in the sale. Perpetual has appointed two Pendal directors, with the new executive committee in place.