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Showing 1 - 10 of 701 results for %22Westpac Super%22

Westpac loses Ausgrid rate swap case

JAMIE WILLIAMSON  |  THURSDAY, 1 FEB 2024
... rate swap case borne out of AustralianSuper and IFM Investors' acquisition of part of Ausgrid in 2016. In October 2016, Westpac engaged in pre-hedging of an interest rate swap transaction with a consortium made up of the superannuation giant and several ...

What you read in 2023

JAMIE WILLIAMSON  |  FRIDAY, 15 DEC 2023
... Panorama Super. It followed the second annual Your Future, Your Super performance test in which Retirement Wrap's Westpac Group Plan MySuper failed for the first time and BT Super MySuper failed for the second time. All members in Retirement Wrap ...

Federal Court approves BT Super $30m settlement

KARREN VERGARA  |  TUESDAY, 12 DEC 2023
The Federal Court approved the $29.95 million class action settlement against Westpac after subsidiaries BT Funds Management (BTFM) and Westpac Life Insurance Services (WLIS) allegedly failed to manage conflicts of interest when investing BT Super member ...

OnePath cops $5m fine over fees for no service

CASSANDRA BALDINI  |  THURSDAY, 30 NOV 2023
... customers who experienced loss or detriment due to fees-for-no-service misconduct or non-compliant advice. These include Westpac and its affiliates being fined $40 million, AMP incurring a $14.5 million penalty, NAB being ordered to pay $18.5 million ...

Westpac reports $7.2bn profit

KARREN VERGARA  |  MONDAY, 6 NOV 2023
Soaring interest rates bolstered Westpac home and business loan books which ultimately saw the bottom line jump by 26% to $7.2 billion. The major bank's full-year performance to September reaped from $70 billion worth of home loans that transitioned ...

TAL makes leadership changes

KARREN VERGARA  |  WEDNESDAY, 11 OCT 2023
... pursue non-executive roles. Thorne led the business unit during the acquisitions of Suncorp Life in September 2021 and Westpac Life the following year, as well as Asteron Life in 2019. Fiona Macgregor has been appointed the chief executive for individual ...

Skynet adviser stole $10.2m: Court

KARREN VERGARA  |  THURSDAY, 28 SEP 2023
... 225 Burke Road, Glen Iris, but the funds were never used for this purpose. Court documents also show that he worked for Westpac, NAB and CBA, providing clients advice on shares and property. He was licensed as an authorised representative of Sentry Financial ...

Westpac closes Specialist Businesses Division

JAMIE WILLIAMSON  |  THURSDAY, 20 JUL 2023
Westpac has decided to fold the Specialist Businesses Division that once housed its platforms, superannuation and insurance businesses, redeploying its lead Jason Yetton. The bank has restructured in support of its next strategic phase, chief executive ...

Ownership changes spur upheaval in unit trust sector

KARREN VERGARA  |  WEDNESDAY, 12 JUL 2023
... billion, folded into Perpetual this year. It was previously part of BT Investment Management, which in turn was part-owned by Westpac. "Perpetual itself has seen significant negative funds flows from its unit trusts, losing 60% of its $1.7 billion total ...

Adviser levy tripled, labelled "deeply unfair"

JAMIE WILLIAMSON  |  THURSDAY, 29 JUN 2023
... left with a tiny fraction of these costs being recovered," Abood said. "For example, ASIC was successful in court against Westpac in April 2022, with $113 million in penalties being awarded in this single case (which included advice related matters). ...
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