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

Search Results

Showing 491 - 500 of 2785 results for "Westpac 16,500"

Royal Commission hits Westpac cash earnings

JAMIE WILLIAMSON  |  MONDAY, 5 NOV 2018
Westpac reported a flat net profit of $8 billion with increased remediation provisions and legal costs weighing on the group's cash earnings. The group recorded a 1% increase in net profit year-on-year to $8.095 billion for the 12 months to September ...

CBA sells CFSGAM, new wealth business chief executive appointed

KANIKA SOOD  |  WEDNESDAY, 31 OCT 2018
Commonwealth Bank is selling Colonial First State Global Asset Management (CFSGAM) to a Japanese buyer. The bank has entered into an agreement with Mitsubishi UFJ Trust and Banking Corporation (MUTB) to sell the business for $4.13 billion for a total ...

Diversity is the answer to war for talent

MICHELLE BALTAZAR  |  FRIDAY, 26 OCT 2018
Experts say Millenials and the Gen Z generation are going to make the gender and race equality debate obsolete in the workplace, even in the hypermasculine sector of financial services. Speaking at SIBOS this week, Rachel Cooper, professor in Gender ...

Former Olympian to lead investment house

KARREN VERGARA  |  FRIDAY, 26 OCT 2018
A former Olympic swimmer has been named as the new chief executive at a diversified financial services firm. Grant Hackett was appointed chief executive at the Generation Development Group (GDG) annual general meeting yesterday. Hackett's focus ...

ANZ compensation bill hits earnings

KARREN VERGARA  |  MONDAY, 8 OCT 2018
ANZ will take a massive $374 million hit to its profit thanks to its customer remediation programs. The bank will recognise the losses in 2H18 for refunds owed to customers. It also factored in legal costs associated with the Royal Commission of $55 ...

Bank cross-selling success declines: Research

KANIKA SOOD  |  MONDAY, 8 OCT 2018
The big four banks are capturing only about 30% of their customers' total spending on financial services products, according to new research. During the Royal Commission, the banks copped criticism for consistently referring existing customers to other ...

Banks to answer for Hayne report

JAMIE WILLIAMSON  |  MONDAY, 8 OCT 2018
The chief executives of Australia's big four banks will head to Canberra to face questioning over the findings published in Commissioner Kenneth Hayne's interim report. The House of Representatives Standing Committee on Economics will commence its next ...

Former super fund chief joins QIC

KARREN VERGARA  |  WEDNESDAY, 3 OCT 2018
QIC announced a former corporate superannuation chief executive will join its board and reappointed two directors. Jane Perry is the former Qantas Super chief, who retired from the top job in June 2015. She previously held a chief executive position ...

AMP, banks respond to RC interim report

HARRISON WORLEY  |  FRIDAY, 28 SEP 2018
AMP and Australia's big four banks have responded to the Royal Commission's interim report on misconduct in the financial services sector. The report, released on Friday, was scathing in its review of Australia's major players in financial services. ...

Regulatory inadequacy to blame: Hayne

JAMIE WILLIAMSON  |  FRIDAY, 28 SEP 2018
Inadequate regulatory response to previous financial advice scandals has enabled poor conduct to continue and exacerbate, according to the Royal Commission. In his interim report, Commissioner Hayne has said scandals dating back to the GFC can shed ...