GOVERNMENT ADOPTS VERTIGAN’S RECOMMENDATIONS
Source: Victoria. Treasurer. Media Release
"The Victorian Government announced it would take action to implement all recommendations made by Dr Vertigan’s review of the compensation framework in a move to ensure employees of the Victorian Funds Management Corporation (VFMC) received appropriate remuneration for the organisation’s investment returns and performance. Treasurer John Lenders said it was appropriate to fairly reward those employees in the public service who had provided strong financial returns for the state and that performance bonuses must be linked to investment outcomes. Mr Lenders said the VFMC had cooperated fully with the review and was satisfied the new leadership of the VFMC, including the recent appointments of John Fraser as Chair and Justin Arter as Chief Executive Officer, would help to implement the recommendations as soon as possible."