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Showing 1731 - 1740 of 6679 results for "Sale"

NAB hit with extra billion in remediation

ELIZABETH MCARTHUR  |  WEDNESDAY, 2 OCT 2019
National Australia Bank announced an additional $1.18 billion in remediation expenses, mostly relating to financial advice. Combined with previously announced remediation costs, NAB is now facing a total remediation bill of $2.09 billion. The unforeseen ...

Blackstone makes $8.7 billion purchase

ELIZA BAVIN  |  TUESDAY, 1 OCT 2019
... Colony Capital Darren Stewart said Blackstone was the ideal choice to lead the business during its next stage of growth. "This sale allows Colony to both achieve compelling returns for our investors and generate significant liquidity, which among other ...

UK insurer fined for annuity sales failings

ELIZA BAVIN  |  TUESDAY, 1 OCT 2019
UK-based insurer Prudential has been hit with a £24 million (AU$43.6 million) fine after failing to advise customers they may receive a better deal on annuities if they shopped around. The Financial Conduct Authority said Prudential failed to ensure ...

Former Deutsche director joins EQT

HARRISON WORLEY  |  MONDAY, 30 SEP 2019
Equity Trustees hired a former Deutsche institutional sales director as an investment specialist. Grant Mundell joined the firm earlier this month as an investment specialist in its asset management team, with a remit to work closely with its philanthropy ...

Chief economist update: China's great leap forward 70 years in the making

BENJAMIN ONG  |  FRIDAY, 27 SEP 2019
China's come a long way, baby! 1 October 2019 marks the 70th anniversary of the founding of the People's Republic of China. The Politburo has much to celebrate and boast about. It didn't happen overnight, but it did happen. Chairman Mao ...

Evidence of "pay to play" in US pension consulting

KANIKA SOOD  |  WEDNESDAY, 25 SEP 2019
Top staff at investment advisory firms may have used political contributions to win mandates from public pension funds in the United States until 2011, a new research paper found. Pay to Play in Investment Management, a paper published by William Beggs ...

IOOF completes Ord Minnett sale

JAMIE WILLIAMSON  |  TUESDAY, 24 SEP 2019
... Minnett management have bought IOOF's 70% stake in the firm for $115 million. IOOF announced today the completion of the sale, saying the buyer was a consortium of investors led by current Ord Minnett executives. The business is home to more than ...

Cerberus affiliate buys Aussie SME lender

KRISTI CHENG  |  TUESDAY, 24 SEP 2019
... Axsesstoday. The $259.7 million deal brings Axsesstoday out of voluntary administration, according to Deloitte, who led the sale. The SME lender entered into voluntary administration in April this year but has been fully operational throughout. It will ...

Morgans snaps up CommSec Advisory business

ELIZA BAVIN  |  TUESDAY, 24 SEP 2019
... advisers in the team who collectively manage around $4 billion on behalf of clients. Both Morgans and CommSec confirmed the sale. "CommSec has agreed to transition CommSec Advisory, our retail and financial advice business, to Morgans," a CommSec spokesperson ...

Support staff should meet FASEA standards

ELIZABETH MCARTHUR  |  FRIDAY, 20 SEP 2019
... Ashenden said this has been misreported. "While it is the commissioner's personal view that the absence of commissions on the sale of life insurance would not result in an underinsurance problem in Australia, that's his personal view - it is not his ...