Tax Strategies

Parametric names new research lead

Parametric has announced the appointment of its new local manager of research and strategy, a position held by Raewyn Williams for seven years.

Whitlam Zhang takes on the role of manager of research and strategy for Australia and New Zealand, based in Sydney.

Williams leaves the firm to pursue other interests. She previously held senior positions, specialising in tax strategies at Russell Investments, QIC and Barclays Global Investors.

Zhang joined Parametric in 2015 and most recently worked with the firm’s global core platform technology team as enterprise data management architect. He previously worked at Russell Investments and APRA.

His new responsibilities include focusing on the firm’s after-tax investing, post-retirement, and responsible investing capabilities. Analyst Joshua McKenzie reports to Zhang.

Zhang reports to Chris Briant, head of Australia and New Zealand at Eaton Vance Management, and Paul Bouchey, global head of research at Parametric.

Briant commented: “While we are excited about Whitlam’s promotion, we are sorry to see Raewyn leave and sincerely thank her for her enormous contribution to the business over the past seven years.  We wish her all the very best for her future.”

In her final research piece, Williams recently wrote about the pivotal role centralised portfolio management (CPM) can play in the mass consolidation of the superannuation industry, particularly over the next decade.

CPM can deliver investment solutions that better match the needs and preferences of fund members at the right cost.

“Funds that fail to do this could find their ‘scale dividends’ will be meagre, members could face more limited, ill-fitting options that simply pass on market returns, and culture dilution and, at worst, ‘mission drift’ could substitute superannuation funds as the neo-bank conglomerates of the future,” she said.

The advantages of CPM will allow super funds to move to the implementation phase of the investment rationalisation project with a good understanding of the expected portfolio holdings, risks, fees, tax positions and ESG attributes of the new portfolio, Williams added.

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