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Showing 11 - 20 of 73 results for "NewCo"

Super sector to dominate by 2034

ALLY SELBY  |  MONDAY, 16 DEC 2019
The superannuation industry will undergo profound changes that will see it grow to become a $7 trillion market ($4.8 trillion in today's dollars) by 2034. But it's not all good news for the retail sector. That's according to the latest report from actuary ...

CBA wealth boss to exit

KANIKA SOOD  |  WEDNESDAY, 13 NOV 2019
The chief executive of NewCo is set to exit among other changes to Commonwealth Bank's group executive lineup. Jason Yetton will depart in early January 2020 after just over 12 months in the role. To date, Yetton oversaw the divestment of Count ...

CommSec responds to sale rumours

ELIZABETH MCARTHUR  |  TUESDAY, 17 SEP 2019
... CBA's advice businesses are split across its business bank (CommSec), business bank (Commonwealth Financial Planning)and NewCo (Financial Wisdom). CBA recently offloaded Count Financial to CountPlus for $2.5 million with a $200 million indemnity.

CFSGAM sale clears regulatory hurdles

KANIKA SOOD  |  FRIDAY, 26 JUL 2019
... announcement and entered an agreement with it to sell CFSGAM. The remaining units were to be spun off as a separate entity called "NewCo" which included Colonial First State, Count Financial, Financial Wisdom, Aussie Home Loans and CBA's minority ...

New chief at CBA Group Super

ELIZABETH MCARTHUR  |  FRIDAY, 19 JUL 2019
... appointment follows an extensive search externally and within the group. Durbin will join CBA Group Super from the group's NewCo where he is currently general manager, strategy. "He has deep specialist knowledge and experience in superannuation, investments ...

Shadforth signs new tech partner

ELIZABETH MCARTHUR  |  WEDNESDAY, 3 JUL 2019
Shadforth Financial Group has signed a new partner to provide third-party clearing and settlement services. FinClear will now deliver trading, clearing and settlement services to Shadforth, along with its TradeCentre front-end technology. FinClear chief ...

CountPlus transfers SMA management

KANIKA SOOD  |  MONDAY, 1 JUL 2019
... Commonwealth Bank said it had entered into an agreement to sell Count Financial, which has 351 advisers and was to be a part of NewCo, to CountPlus for $2.5 million with a $200 million indemnity. It will also, over time, sell its 35.9% holding in Cou ...

FSC adds to board

ELIZABETH MCARTHUR  |  MONDAY, 24 JUN 2019
... management Alex Wade joined the board along with Challenger chief financial officer Andrew Tobin and chief executive officer of NewCo at the Commonwealth Bank Jason Yetton.

Commonwealth Bank mulls retail advice business sale

KANIKA SOOD  |  FRIDAY, 21 JUN 2019
... CommSec and hence, CAS sit), retail bank (where the salaried advisers under Commonwealth Financial Planning sit) and in NewCo (with Financial Wisdom). On June 13, CBA said it entered into an agreement to sell Count Financial, which has 351 advisers and ...

CFS taps senior Qantas Super executive

KANIKA SOOD  |  MONDAY, 3 JUN 2019
... prioritise Royal Commission recommendations, refunding customers and remediating past issues The new company, to be called NewCo, which includes CFS, reported an indicative cash net profit after tax of $147 million for the first half of FY19.