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HSBC to cut 35,000 jobs

ELIZA BAVIN  |  THURSDAY, 20 FEB 2020
... also planning a complete restructure of the business as it reduces its global headcount to around 200,000 employees over the next three years. The bank said it will cut US$100 billion in assets, shrink its investment bank and close a third of its US ...

McGrathNicol launches cyber protection tool

HARRISON WORLEY  |  WEDNESDAY, 19 FEB 2020
... forensic data collection, investigations and early warning risk analytics based on behavioural activity profiling over the next 12 months. I anticipate the outcomes of the project will have national, if not international, reach and impact."

Bennelong announces executive hires

ELIZA BAVIN  |  WEDNESDAY, 19 FEB 2020
... characteristics and requirements of the multi-boutique model and is the perfect leader for BennBridge as it embarks on its next period of development, including expansion into Europe. Thomas has over 20 years' industry experience, having worked at Visium ...

Franklin Templeton to acquire Legg Mason

JAMIE WILLIAMSON  |  WEDNESDAY, 19 FEB 2020
... investments Franklin Templeton expects to make in the combined business and in addition to previously announced savings, over the next two years. Legg Mason had its best day in close to five years following the announcement as shares jumped more than ...

JP Morgan appoints two Aussie leads

ALLY SELBY  |  TUESDAY, 18 FEB 2020
... and Simon's combined experience, leadership and client focus provides a solid foundation that sets our franchise up for the next era of growth," he said. Jerram has spent more than three years working with the global banking powerhouse as its Australian ...

CommInsure income protection off the menu

ELIZABETH MCARTHUR  |  TUESDAY, 18 FEB 2020
... cease accepting new business from 31 March 2020. AIA said the move to streamline its retail advised life risk business is the next step in its integration of CommInsure Life. AIA and CommInsure came together under a Joint Cooperation Agreement in November ...

Natixis hires insto sales director, opens Melbourne office

ALLY SELBY  |  TUESDAY, 18 FEB 2020
... executive, Damon Hambly, saying its new Melbourne digs will help grow the business down under. "Our new Melbourne office is the next step to growing our business in the Australian market," he said. "Natixis and its affiliates have been a trusted steward ...

Fund managers driven to alternatives: Report

ELIZA BAVIN  |  TUESDAY, 18 FEB 2020
... with peers, but this allocation is likely to grow as the group plans to expand its unlisted alternatives programme over the next 12 months." The report found that managers like CFS, Pendal and MLC most often opt for alternative investments in listed ...

Chief economist update: Japan fails to learn from history (yet again)

BENJAMIN ONG  |  TUESDAY, 18 FEB 2020
... government debt to GDP ratio went from 91.2% in 1996 to 110.5% in 1998 and continued to rise to 232.5% in 2013 before the next increase in the consumption tax (from 5% to 8% in April 2014) repeated history. The fallout from the consumption tax hike from ...

Chief economist update: The virus, the trade deal and the AUD

BENJAMIN ONG  |  MONDAY, 17 FEB 2020
... to disrupt China's commitment to increase its importation of US goods and services by around US$200 billion over the next two years - US$77 billion in 2020 and US$123 billion by 2021 - due to the lockdown and stoppages in Chinese business operations ...