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Showing 1401 - 1410 of 17952 results for "Bank"

Zenith chief exits, names successor

KARREN VERGARA  |  MONDAY, 21 AUG 2023
The chief executive of Zenith Investment Partners will step down as the firm's chief operating officer assumes the top job. David Wright vacates the role of chief executive at the end of the year but remains at Zenith to take on a newly created ...

Westpac reports $1.8bn net profit, rise in stressed assets

ANDREW MCKEAN  |  MONDAY, 21 AUG 2023
... deposit to loan ratio, reaching 84.1%. This was bolstered by an $8.7 billion growth in customer deposits. Additionally, the bank experienced a $6.4 billion increase in loans, predominately driven by owner-occupied mortgages and business lending. Common ...

ASIC renews leadership team

CHLOE WALKER  |  FRIDAY, 18 AUG 2023
The corporate regulator has made several executive changes within its enforcement and compliance, regulation and supervision and markets group teams. ASIC's current senior executive leader, investigations Chris Rowe has been promoted to the role of ...

ASIC appeal in CBA, CFS case dismissed

JAMIE WILLIAMSON  |  THURSDAY, 17 AUG 2023
Having had its initial conflicted remuneration case against Commonwealth Bank and Colonial First State dismissed in September 2022, ASIC's appeal of that decision has also now been dismissed. The case was first brought by ASIC in June 2020 and related ...

Norway's sovereign wealth fund returns 10%

ANDREW MCKEAN  |  THURSDAY, 17 AUG 2023
... Norway's $1.4 trillion Government Pension Fund Global returned 10% in the first half, equivalent to $343 billion. Norges Bank Investment Management reported a $13.7% return on equity investments for the first half of 2023, while fixed income yielded ...

Former iShares lead joins Stake

CHLOE WALKER  |  THURSDAY, 17 AUG 2023
... director, head of index equity APAC as well as head of iShares Australia. He also held leadership positions at Macquarie Bank and VGI Partners. In his new role, Howie will promote strategic innovation across all teams while ensuring sustainable long ...

AMP provisions $50m in response to class action

ANDREW MCKEAN  |  THURSDAY, 10 AUG 2023
... International Infrastructure Equity, Domestic Infrastructure Equity operations, and SuperConcepts. Regarding its business units, AMP Bank reported a NPAT increase of 23.9%, reaching $57 million. The platforms division noted 25.7% growth from 1H22 with ...

Liquidate $250bn Future Fund, says think tank

CASSANDRA BALDINI  |  THURSDAY, 10 AUG 2023
... the Future Fund has an opportunity cost, the cost of debt, which is borne by the budget," said Burshtein. Using the Reserve Bank of Australia's official cash rate of 4.1%, Burshtein said the fund would need to generate 4.1% returns after costs to ...

Former advisers costs CBA $1.2bn in remediation

KARREN VERGARA  |  WEDNESDAY, 9 AUG 2023
Commonwealth Bank's $1.2 billion bad advice remediation bill represented a small fraction of its whopping $10.2 billion profit, the full-year financial results show. The total customer remediation amounted to a huge $2.6 billion in the 2023 financial ...

Wall Street firms slugged $442m for recordkeeping breach

KARREN VERGARA  |  WEDNESDAY, 9 AUG 2023
... the crackdown on maintaining proper recordkeeping, the Commodity Futures Trading Commission separately fined Wells Fargo Bank, BNP Paribas Securities, SG Americas Securities, Société Générale, Bank of Montreal, and Wedbush Securities for related ...