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Showing 811 - 820 of 2099 results for "MAX"

NAB faces half a billion in fines

ELIZA BAVIN  |  WEDNESDAY, 13 NOV 2019
National Australia Bank has admitted to breaching credit legislation 255 times over its axed introducer program for mortgages. NAB has filed documents in the Federal Court admitting to 255 of the 295 breaches of the Consumer Credit Protection Act alleged ...

Industry fund changes insurer

KANIKA SOOD  |  FRIDAY, 8 NOV 2019
An industry superannuation fund has swapped out Hannover Life as its provider for income protection cover, amid an overhaul of its insurance offering. NESS Super (New South Wales Electrical Superannuation Scheme) managed about $760 million in superannuation ...

Actuaries develop retiree rule of thumb

HARRISON WORLEY  |  THURSDAY, 7 NOV 2019
A group of actuaries have answered the calls of retirees looking for a simpler way to determine how much money they should draw out of their savings in retirement, developing a new three-part rule of thumb. The Rule of Thumb Working Group has developed ...

NAB remediation team swells, no executive bonuses

ELIZABETH MCARTHUR  |  THURSDAY, 7 NOV 2019
National Australia Bank's 2019 full year results include the revelation that its customer remediation team has ballooned to 950 people. NAB chief executive Philip Chronican said in a statement that the team of 950 dedicated to remediating customers ...

Wealth income halved, Hartzer skips $1.6m bonus

HARRISON WORLEY  |  MONDAY, 4 NOV 2019
Westpac chief executive Brian Hartzer relinquished a $1.6 million cash bonus for the year, as income for the group's wealth management business fell significantly. Releasing its annual report and full year results to the market this morning, Westpac ...

Former PIMCO chief guilty in admissions scandal

ELIZABETH MCARTHUR  |  WEDNESDAY, 30 OCT 2019
The former chief executive of PIMCO has pleaded guilty to charges in relation to the ongoing Operation Varsity Blues college admissions bribery scandal in the United States. According to the US Securities and Exchange Commission, former PIMCO chief ...

APRA won't appeal IOOF judgement

ELIZA BAVIN  |  FRIDAY, 18 OCT 2019
The Australian Prudential Regulation Authority will not appeal the Federal Court decision to dismiss its court action against IOOF. The case related to the management of conflicts of interest, the appropriate use of superannuation fund reserves and ...

GSFM scoops up MLC's stake in Redpoint

ELIZA BAVIN  |  FRIDAY, 18 OCT 2019
... quantitative solutions and Redpoint brings a highly credible and experienced team to provide such strategies." Redpoint CEO Max Cappetta said: "GSFM's acquisition of a 49% equity stake in the business will allow the Redpoint team to focus on investment ...

IFM pushes into large scale private equity

ELIZA BAVIN  |  FRIDAY, 18 OCT 2019
IFM Investors has announced it will make a concerted push into larger scale private equity investments with the appointment of Jeremy Larkin to head the initiative. Larkin spent 25 years in corporate finance at Deutsche Bank and J.P. Morgan, also working ...

Fees down across asset classes: Report

ELIZA BAVIN  |  WEDNESDAY, 16 OCT 2019
A report has found substantial fee reductions across a number of asset classes, associated with continued pressure on external manager fees from asset owners. The bfinance report found fees for active global equity mandates have fallen by 7% since 2013 ...