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CommSec adds general manager

JAMIE WILLIAMSON  |  THURSDAY, 3 SEP 2020
... years with the broker. Phelps held the role for over 10 years, prior to which he was executive manager, margin lending for close to 11 years. Smoker was chief executive of Saxo Capital Markets for three years from April 2016 to March 2019. Previous to ...

IOOF names licensee chiefs, acquires platform

JAMIE WILLIAMSON  |  WEDNESDAY, 2 SEP 2020
Following its acquisition of MLC and decision to restructure its licensees, IOOF has consolidated the leadership of its various dealer groups and announced another acquisition. Revealing the next phase of its Advice 2.0 strategy today, IOOF has restructured ...

JobKeeper extension passed

ELIZA BAVIN  |  WEDNESDAY, 2 SEP 2020
... businesses it will be the difference between them remaining in business and reopening on the other side or having to permanently close their doors and let go of all their employees. The two-tiered payment will also be introduced from September 28. Employees ...

BNY Mellon expands to Asia Pacific

KARREN VERGARA  |  WEDNESDAY, 2 SEP 2020
A US$2 trillion fund manager is expanding to Taiwan and appointed a lead to drive its strategy in the Asia Pacific. BNY Mellon Investment Management announced Rebecca Chu will spearhead the firm's growth as head of Taiwan, focusing on local clients ...

Chief economist update: RBA increases and extends TFF

BENJAMIN ONG  |  WEDNESDAY, 2 SEP 2020
The Reserve Bank of Australia (RBA) kept domestic interest rates unchanged - the targets for the official cash rate at 0.25% and the yield on 3-year Australian Government bonds at 25 basis points - at its September meeting, as expected. What came as ...

Dividends ripe for the picking

ANNABELLE DICKSON  |  TUESDAY, 1 SEP 2020
... assets, such as cash, bonds and term deposits simply won't be able to pay the bills and we expect the cash rate to remain close to zero for at least the next two years." While investors relying on dividend income have traditionally looked to the big ...

ASIC names operations, risk leads

KARREN VERGARA  |  MONDAY, 31 AUG 2020
The corporate regulator has made two senior appointments to lead its operations and risk management units. ASIC promoted long-serving employee Warren Day to the newly-created role of chief operating officer after serving as the executive director of ...

Argo Infrastructure posts $9.3m loss, but increases dividends

ALLY SELBY  |  MONDAY, 31 AUG 2020
... from the previous year. The company's market cap at June 30 was $294 million, which lifted to $300 million on Friday at close of market. For the 2019 financial year, Argo Investment's had a market cap of $344 million. Yet, the company has increased its ...

IOOF posts profit, restructures business

ELIZA BAVIN  |  MONDAY, 31 AUG 2020
... transformation. IOOF announced its Bridges business will be transformed into a fully salaried network, while it will also close its Financial Services Partners (FSP), along with EWM and Actuate licences. Chief executive Renato Mota said IOOF will support ...

Citi adds compliance head

ANNABELLE DICKSON  |  THURSDAY, 27 AUG 2020
Citi Australia has appointed Sarah Stewart as managing director and chief country compliance officer for Australia and New Zealand. She takes over from James Davies, who was recently appointed as regional chief compliance officer for Citi's Institutional ...