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Showing 251 - 260 of 475 results for "Remediation"

NAB remediation team swells, no executive bonuses

ELIZABETH MCARTHUR  |  THURSDAY, 7 NOV 2019
National Australia Bank's 2019 full year results include the revelation that its customer remediation team has ballooned to 950 people. NAB chief executive Philip Chronican said in a statement that the team of 950 dedicated to remediating customers ...

Wealth income halved, Hartzer skips $1.6m bonus

HARRISON WORLEY  |  MONDAY, 4 NOV 2019
... was disappointing and reflects both the "challenging, low-growth, low interest rate environment", and the impacts of remediation and the restructure of its wealth business, which combined made a $1.1 billion dent in cash earnings. "Excluding these notable ...

RI Advice faces ASIC action

JAMIE WILLIAMSON  |  THURSDAY, 31 OCT 2019
... suspended. When Whereat fronted the commission, RI Advice had not yet completed the review of Doyle's client files and remediation. It had been assigned as a low priority task, the case study reads. Whereat is now the general manager of advice at ...

ANZ profits hit by remediation, low rates

ELIZA BAVIN  |  THURSDAY, 31 OCT 2019
... compared to last year, with the bank blaming record low interest rates, increased regulation and a rise in customer remediation costs. ANZ chief executive Shayne Elliott said: "This has been a challenging year of slow economic growth, increased competition ...

Woolworths admits to underpaying staff $300m

ELIZA BAVIN  |  WEDNESDAY, 30 OCT 2019
... all relevant award requirements have been met for salaried team members. The group expects the one-off impact for remediation to be in the range of $200-$300 million before tax. Woolworths Group chief executive Brad Banducci said: "As a business we pride ...

Westpac takes $1 billion profit hit

ELIZA BAVIN  |  THURSDAY, 24 OCT 2019
Westpac's customer compensation bill has added $341 million in the second half of 2019, bringing the remediation total to $958 million for the year. Westpac chief executive Brian Hartzer said: ""A key priority in 2019 has been to deal with outstanding ...

QMV kicks off legal practice, appoints lead

KANIKA SOOD  |  TUESDAY, 8 OCT 2019
... partner. The consultancy firm currently works with about 25 superannuation clients. Recent work has been focused on data remediation arising out of the Royal Commission and management consulting, according to QMV managing partner Mark Vaughan. It now ...

ANZ remediation costs break $1 billion

ELIZA BAVIN  |  TUESDAY, 8 OCT 2019
... following reviews of Australian retail and commercial products. Another $154 million is associated with the banks advice remediation program and customer compensation charges for wealth products. The bank said that the charges relate to historical and ...

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 ...

Licensee faces hefty remediation bill

ELIZABETH MCARTHUR  |  WEDNESDAY, 18 SEP 2019
Australian financial services license holder ClearView Financial Advice has been hit with a remediation bill for $730,000. ClearView's review and remediation program for over 200 clients who received poor life insurance advice resulted in the figure. ...