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Equity Trustees net profit up 28pct, execs get bonuses

KANIKA SOOD  |  WEDNESDAY, 22 AUG 2018
Equity Trustees' top executives took home the highest possible short-term incentives, as the company swelled net profits by 28%. It paid its five top executives and the managing director about 99% of the maximum short-term opportunity awarded to ...

TAL partners with mental health NFP

KARREN VERGARA  |  TUESDAY, 21 AUG 2018
... Australian community. Last year, TAL paid more than $1.6 billion in claims to customers, with mental health comprising the top five conditions of claims paid. According to the mental health organisation SuperFriend, about half of financial services employees ...

Finance sector in top three for giving: Report

HARRISON WORLEY  |  MONDAY, 20 AUG 2018
... finance sector highlighted for its contribution. The GivingLarge report, analysed community investments made by Australia's top 50 publicly listed companies, revealing Wesfarmers and CSL lead the way for Australian corporate philanthropy by way of cash ...

CFA adds AI and fintech to curriculum

KARREN VERGARA  |  FRIDAY, 17 AUG 2018
The CFA Institute is introducing artificial intelligence, fintech and machine learning to its curriculum as of next year. The Institute updated its subject areas in an effort to arm candidates with the skills and knowledge needed for success in the ...

ANZ grilled over Smart Choice sales

JAMIE WILLIAMSON  |  THURSDAY, 16 AUG 2018
The selling of superannuation products by ANZ branch staff has been called into question, with the Royal Commission suggesting the bank's practices are misleading and deceptive. Appearing before the Commission this morning, ANZ head of superannuation ...

Indigenous Australians face super challenges: Royal Commission

HARRISON WORLEY  |  MONDAY, 13 AUG 2018
The Royal Commission heard today of the difficulties indigenous Australians face in engaging with the superannuation system. Introducing the topic of this morning's hearing, counsel assisting Rowena Orr outlined the systemic issues indigenous Australians ...

Magellan funds record $331m profit

KANIKA SOOD  |  THURSDAY, 9 AUG 2018
Magellan's funds management business topped last year's profits by 33% as Hamish Douglass' stable of well-performing funds continued to collect performance fees and new investor money. Magellan's funds management business now has $59 ...

AMP profits nosedive, new board director announced

KANIKA SOOD  |  WEDNESDAY, 8 AUG 2018
... appointment demonstrates that board renewal is well underway as we continue the rebuild at AMP." "John brings a wealth of top-level experience across financial markets, governance and public policy to the AMP board table. He has an exceptional blend ...

Fees for no service remediation passes $250 million

DARREN SNYDER  |  WEDNESDAY, 8 AUG 2018
Financial institutions outside the big four banks and AMP have been integrated into ASIC's fees for no service remediation programs, with total provisions likely to exceed $850 million. Updating the financial services industry and consumers on its oversight ...

CBA readies wealth demerger, records $9.2bn cash profit

DARREN SNYDER  |  WEDNESDAY, 8 AUG 2018
... Engagement Index, has dropped to its lowest level (72%) in the past five years. It is aiming to reach 82% to be in the global top 10% of companies. "Despite the challenges we have faced this year, the fundamentals of our business remained strong," Comyn ...