Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 411 - 420 of 2785 results for "Westpac 16,500"

Court dismisses Westpac lending practice case

KARREN VERGARA  |  THURSDAY, 15 AUG 2019
The Federal Court has dismissed ASIC's case against Westpac, alleging it breached responsible lending practices for home loans. ASIC alleged that between December 2011 and March 2015, the bank failed to properly assess whether borrowers could meet repayment ...

Future Fund voted down Pinnacle equity grants

KANIKA SOOD  |  TUESDAY, 13 AUG 2019
The $154 billion sovereign wealth fund voted against equity grants to Pinnacle Investment Management's managing director Ian Macoun and two executive directors, a summary of its proxy voting for FY19 shows. Future Fund was happy to support re-election ...

Westpac fined over reporting failure

ELIZABETH MCARTHUR  |  THURSDAY, 8 AUG 2019
APRA has handed Westpac the maximum financial penalty it can for failing to meet reporting obligations. Westpac and its subsidiaries St George Finance Holdings and Capital Finance Australia will pay more than $1.5 million after breaching requirements ...

BT advice boss lands new role

KANIKA SOOD  |  WEDNESDAY, 7 AUG 2019
The former general manager of BT Financial Advice, who was grilled at Royal Commission hearings last year, will lead an ASX-listed managed accounts provider for a $500,000 base salary. Michael Wright will join Xplore Wealth (formerly Managed Accounts ...

ASIC reveals advice remediation progress

HARRISON WORLEY  |  THURSDAY, 1 AUG 2019
A 2017 report by ASIC into how the big banks and AMP oversee financial advisers has netted less than $120 million in remediation to date. AMP, ANZ, Commonwealth Bank, NAB and Westpac have paid a total of $119.7 million [see figure 1] in remediation ...

Boutique manager hires investment banking expert

KARREN VERGARA  |  THURSDAY, 1 AUG 2019
The former managing director of RBC Capital Markets has left to join an alternatives asset manager with $4.6 billion of funds under management. Metrics Credit Partners has hired Hamish Mitchell as investment director to lead its loan origination activities ...

Private wealth firm grows footprint

JAMIE WILLIAMSON  |  WEDNESDAY, 24 JUL 2019
Two former Westpac executive financial planners have joined the leadership team of a national private wealth firm, seeing it expand interstate. Marc Smith and Patrick Duke have joined Integral Private Wealth, establishing the Sydney-based firm's first ...

REI Super names new chief executive

KARREN VERGARA  |  TUESDAY, 23 JUL 2019
REI Super has named its new chief executive to replace long-serving incumbent Mal Smith, who steps down this year. Jarrod Coysh, who was most recently group executive of employers, strategy and corporate development at Cbus, is the new chief for the ...

Open banking reforms a boon for fintech

ELIZABETH MCARTHUR  |  THURSDAY, 4 JUL 2019
With the new open banking regime now in effect, fintechs are set to reap the rewards of data sharing. As of July 1, the big banks are now required to share generic product data as part of the government's phased timeline for the introduction of open ...

Chief economist update: RBA justified to cut rates or not

BENJAMIN ONG  |  FRIDAY, 28 JUN 2019
... in the cash rate." But will it be as soon as next week? Australia's big four banks - ANZ, Commonwealth Bank, NAB, Westpac - think the RBA will announce a 25 bps reduction in interest rates at the conclusion of its July 2 board meeting. Financial ...