POWERED BY MOMENTUM MEDIA
Jumping the gun on announcing an engagement
Rollover believes that its just common knowledge that politics and ego are part and parcel of any merger process between superannuation funds.
And so whenever Rollover hears about a merger between funds he expects that messaging will reflect at least some ego and a good deal of politics.
And such proved to be the case with respect to the putative merger between NGS Super and Catholic Super with Catholic Super’s chief executive, Greg Cantor, appearing to have surprised his friends at NGS Super by the alacrity with which he decided to announce the merger to the always hungry media.
Rollover gathers that while the guys at NGS Super were a bit miffed, they were happy to go along with the early-than-anticipated announcement on the basis that such events are all part and parcel of superannuation fund marriages.
From where Rollover sits, the merger looks like one of the more sensible to be announced in recent times given that NGS Super covers those working in non-Government schools, while Catholic Super covers those working in the Catholic non-government schools system.
What can possibly go wrong?
AUTHOR
The Rollover
Rollover is a jaded hack who joined the staff of Super Review nearly two decades’ ago and never managed to summon the energy to leave. Known throughout the superannuation industry as a power-luncher and gossip, Rollover spends his time humouring fund managers, eavesdropping at conferences, dozing through briefings and looking for his next free meal.
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As a history buff, Rollover is well-aware of the importance of the role the vanguard plays in a military force, as the leader at the front of battle.
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Rollover is almost as fascinated by superannuation fund mergers as the deputy chair of the Australian Prudential Regulation Authority (APRA), Helen Rowell.
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