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Showing 3351 - 3360 of 17956 results for "Bank"

Banks brace for major loan losses

ALLY SELBY  |  WEDNESDAY, 15 JUL 2020
... significant defaults in the months ahead. Wells Fargo chief executive Charlie Scharf, appointed late last year as part of the bank's transformational strategy, said he was extremely disappointed by the results. "We are extremely disappointed in both ...

Statewide overhauls risk management approach

ELIZA BAVIN  |  WEDNESDAY, 15 JUL 2020
Statewide Super has hit the refresh button on its approach to risk, prompted by COVID-19 and the Royal Commission. The funds recently appointed chief risk officer, Jason Muir said his goal is to refresh the industry fund's approach to risk in a post-COVID-19 ...

Pendal winds back fees

KANIKA SOOD  |  TUESDAY, 14 JUL 2020
Pendal Group has made year-long fee cuts on two funds, as it sees the Reserve Bank of Australia holding the cash rate at the record-low of 0.25%. The Pendal Managed Cash Fund will go from charging 22bps per year to 12bps, while the Pendal Stable Cash ...

AMP hit with credit downgrade

ELIZABETH MCARTHUR  |  TUESDAY, 14 JUL 2020
... rating from BBB+ to BBB, with all AMP Group entities on CreditWatch with negative implications. The rating assigned to AMP Bank remains unchanged by S&P at BBB+. The change to the credit rating is a response to the AMP Life Limited sale which settled ...

ME Bank chief resigns

ELIZABETH MCARTHUR  |  TUESDAY, 14 JUL 2020
ME Bank chief executive Jamie McPhee has resigned after weathering scrutiny over the bank's adjusting of redraw facilities for mortgage customers and its relationship with the industry funds that own it. McPhee, who has been chief executive for ...

Westpac names chief financial officer

ELIZA BAVIN  |  TUESDAY, 14 JUL 2020
... programs and in disciplined financial management will be an important contributor to making Westpac a simpler and stronger bank." Rowland was most recently partner in management consulting at KPMG, a role he has held since 2014. Prior to that he held ...

Multi-boutique adds to US team

KANIKA SOOD  |  MONDAY, 13 JUL 2020
A local multi-boutique has appointed a managing director for Americas, in a newly-created role focussed on expanding its distribution in the region. Jeff Chapman - owned Bennelong Funds Management has appointed Daniel Allen as the managing director ...

US investment firm launches in Australia

ELIZABETH MCARTHUR  |  MONDAY, 13 JUL 2020
... adding value to Australian investor portfolios." Axius - which provides services to institutional, family office, private bank and wealth manager investors - will distribute the ARP offering in Australia. "Axius is delighted to welcome ARP to its suite ...

Global public debt to reach 101.5% of GDP: IMF

ELIZA BAVIN  |  MONDAY, 13 JUL 2020
The International Monetary Fund has predicted global public debt will rise to its highest levels in history as a result of the economic fallout from the COVID-19 pandemic. In the face of a sharp decline in global output, a massive fiscal response has ...

FSU secures super pay increases

ELIZA BAVIN  |  FRIDAY, 10 JUL 2020
... apply," she said. The FSU also negotiated pay rises of 6% over 2 years for NAB employees and 9% over three years for Bendigo Bank.