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| | | ... upfront reinsurance commission from Zurich. At the time, ANZ said the sale was completed "simplification" of its wealth division. Upon completion, Zurich will own 100% of One Path Life Australia Holdings (OPL), but ANZ will retain its New Zealand business ... |
| | | | ... on ANZ's 1H18 financial results, ahead of the acquisition. ANZ's 1H18 results reveal that cash profits in its wealth division slid by 24% to $44 million. ANZ said this was because of a non-recurring lenders mortgage reinsurance profit share being included ... |
| | | | Westpac's wealth management and insurance arm yielded $1.2 billion in revenue in the six months to 31 March 2018, an increase of 5% on 2H17. Overall BT Financial group added $404 million in cash earnings to Westpac Group's interim results, with the ... |
| | | | ... stockbroking businesses under Banking and Financial Services (BFS). It services more than one million customers. The division's fees and commissions dipped from $472 million to $466 million, but contributed $560 million to the bottom line, up 9% year-on-year. ... |
| | | | ... for the businesses it is planning to acquire from ANZ. The bank's 1H18 results reveal that cash profits in the wealth division slid by 24% to $44 million. ANZ said this was because of a non-recurring lenders mortgage reinsurance profit share being included ... |
| | | | ... ability to self-regulate, she said. In referencing the FPA, AFA and ASIC's evidence, Orr questioned whether the current division of responsibility for the advice industry - being between employers, ASIC and the associations - is effective in ensuring ... |
| | | | ... have ploughed more than $1 billion to the sector since 2007. Tim Lee, a partner of the food and agribusiness advisory division at PwC, says water volatility and accessibility to required volumes are posing risks not only to producers, but to supply chains ... |
| | | | ... materialised to an $86 million loss. In the same month, it agreed to sell UDC Finance, which is part of the New Zealand division, to HNA Group. ANZ booked $18 million in cost recovery related to the sale. Exiting its retail and wealth businesses from ... |
| | | | The Australian Council of Trade Unions is calling on industry superannuation funds to review partnerships with the big banks in light of issues exposed at the financial services Royal Commission. In a letter to industry fund chief executives, ACTU secretary ... |
| | | | ... satisfaction would have been feasible to incentivise advisers. Last week, CBA executive general manager of the private banking division Marianne Perkovic told the Commission that CBA's systems were so "hopeless" that it took more than two years to notify ... |
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