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Showing 271 - 280 of 1381 results for "franc"

CBA profit takes hit, dividend cut

ELIZA BAVIN  |  WEDNESDAY, 12 AUG 2020
The Commonwealth Bank has announced an 11.3% profit hit due to the effects of the COVID-19 pandemic and slashed its dividend by 31%. The bank announced its FY20 results, saying it reflects the impact of COVID-19 on its customers and the economy, adding ...

Alex Wade leaves AMP

JAMIE WILLIAMSON  |  THURSDAY, 6 AUG 2020
AMP has announced the departure of AMP Australia chief executive Alex Wade, effective immediately. Wade tendered his resignation and AMP accepted it, the group said. Chief executive of AMP's New Zealand Wealth Management, Blair Vernon, will replace ...

Lazard dumps AMP shares

ELIZABETH MCARTHUR  |  TUESDAY, 4 AUG 2020
In a notice to the ASX, AMP said Lazard Asset Management has ceased being a substantial holder in the company. On June 30, Lazard sold more than 17 million shares in AMP worth over $29 million. In Lazard's June fund updates, AMP was among the top five ...

Wealth manager takes massive profit hit

ELIZA BAVIN  |  FRIDAY, 31 JUL 2020
A global pandemic and subsequent market volatility have hit wealth manager AMP, taking a near 50% profit hit compared to the same period last year. AMP provided an update on its 2020 interim operating earnings to the ASX, citing the impact from market ...

Advisers file class action against AMP

JAMIE WILLIAMSON  |  WEDNESDAY, 29 JUL 2020
A class action has been filed against AMP by its own advisers in relation to the institution's decision to slash Buyer of Last Resort valuations last year. Almost one year on from the news BOLR valuations would be cut from 4x recurring revenue to ...

Franklin Templeton announces revised APAC team

ELIZA BAVIN  |  WEDNESDAY, 29 JUL 2020
Franklin Templeton has revealed its new head of Asia Pacific (APAC), including India, as well as an updated distribution team within the region as it completes its acquisition of Legg Mason. Vivek Kudva has been appointed head of APAC and will be responsible ...

Citi adds to markets, custody leadership

ELIZABETH MCARTHUR  |  MONDAY, 27 JUL 2020
Citi has appointed a vice chair of markets and securities services for Australia and New Zealand. Sara McKerihan will step into the role, returning to Australia to take up the helm after spending time in Citi's New York office. She will focus on growing ...

BNP Paribas adds to custody team

ELIZA BAVIN  |  THURSDAY, 23 JUL 2020
BNP Paribas has announced the appointment of Sam Meares as head of banking services operations Australia and New Zealand. Reporting to chief operating officer, David Banks, Meares will be responsible for managing the operations teams of the bank's ...

Banks brace for major loan losses

ALLY SELBY  |  WEDNESDAY, 15 JUL 2020
Three of the United States' biggest banks have set aside approximately $40 billion (US$28 billion) to brace for COVID-19 related loan losses, as Wells Fargo posts its first quarterly loss since the Global Financial Crisis. Citigroup saw its net income ...

AMP should stop whining: Slater and Gordon

ELIZABETH MCARTHUR  |  THURSDAY, 2 JUL 2020
Law firm Slater and Gordon has slammed AMP chief executive Francesco De Ferrari's criticism of litigation funding and class actions, as AMP continues to battle lawsuits sparked by the Royal Commission. Slater and Gordon head of class actions Ben Hardwick ...