Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 191 - 200 of 376 results for "divestment"

BOQ sells insurance business

ELIZA BAVIN  |  WEDNESDAY, 14 OCT 2020
... term vision for the business which includes meeting the continued obligations of policyholders," Frazis said. "The divestment enables us to focus on our niche customer segments while simplifying out business model." Farmcove managing director Matt Lancaster ...

CBA progresses with divestment to AIA

ANNABELLE DICKSON  |  WEDNESDAY, 30 SEP 2020
Commonwealth Bank has received another payment furthering the divestment of its life insurance business to AIA Group. CBA has received a payment of approximately $450 million for the sale of CommInsure Life with the proceeds resulting in a pro forma ...

Super funds accused of chest beating on climate change

ELIZABETH MCARTHUR  |  WEDNESDAY, 16 SEP 2020
Two major industry superannuation funds have this week made bold statements about their stance on climate change, but critics argue it may be "virtue signalling" with little substance. UniSuper announced this week it is committed to achieving net zero ...

UK pensions to factor in climate change risk

JAMIE WILLIAMSON  |  FRIDAY, 4 SEP 2020
... risks and protect the retirement savings of hard-working people," she added. Acknowledging that some may say complete divestment is the better option, Coffey said such an approach is overly simplistic and actually makes it harder to achieve net zero. ...

IOOF posts profit, restructures business

ELIZA BAVIN  |  MONDAY, 31 AUG 2020
IOOF posted a net profit of $147 million for FY20, while also announcing a range of changes to its advice businesses as part of its advice transformation. IOOF announced its Bridges business will be transformed into a fully salaried network, while it ...

FSU wants CBA to up pay

ELIZABETH MCARTHUR  |  THURSDAY, 13 AUG 2020
... executive Matt Comyn said in the results announcement that the bank was able to make some gains during the year due to the divestment of its wealth business. Cash net profit for the bank took a hit of 11.3% compared to FY19 at $7.29 billion. Statutory ...

CBA profit takes hit, dividend cut

ELIZA BAVIN  |  WEDNESDAY, 12 AUG 2020
... delivering good outcomes for customers and shareholders. Comyn said the bank was able to make some gains due to the divestment of its wealth businesses which offset some losses due to lower interest rates and COVID-19. "We have now substantially divested ...

IOOF divests Australian Ethical

ELIZABETH MCARTHUR  |  FRIDAY, 7 AUG 2020
... available alongside several other ethical investment options on our platforms." IOOF added that the proceeds from the divestment will be used to reduce debt and provide strategic flexibility for growth opportunities. The impact on underlying net profit ...

UK pension fund to go net zero

JAMIE WILLIAMSON  |  THURSDAY, 30 JUL 2020
... strategies, instantly reducing its carbon footprint by the equivalent of taking 200,000 cars off the road, the fund said. The divestment includes its investments in emerging market equities and represents $2.17 billion being removed from the world's ...

Aussie banks set to underperform

ALLY SELBY  |  THURSDAY, 16 JUL 2020
... small, they would contribute somewhere between three to six or 7% of profits for the banks." This meant the bank's divestment from wealth was "an absolute no brainer", he said. "This has been an unmitigated disaster for the banks," Jenneke said. ...