Financial Services
A utility firm to service ATMs?
RICHARD GLUYASWith ATM fees now scrapped, it’ll be harder to argue there’s a net public benefit in the creation of a utility company.
Livingstone to front bank grilling
RICHARD GLUYASThe parliamentary committee that grills the major bank chiefs has reached further into the industry’s boardrooms.
ATM deal before CBA leap
RICHARD GLUYASThe major banks and smaller lenders had planned to set up a jointly owned company to service their vast ATM networks.
Pepper backs fresh KKR bid
Samantha WoodhillPepper Group’s board has recommended a sweetened takeover bid from Kohlberg Kravis Roberts
Deutsche ticks CommInsure sale
Bridget CarterDeutsche Bank analysts have thrown their support behind CBA’s $3.8bn sale of its life insurance arm CommInsure.
Bank customers ‘deserve power’
RACHEL BAXENDALEScott Morrison has credited the government with putting more pressure on the banks after they scrapped ATM fees.
ATM fees: the rainy-day PR win
Alan KohlerWith ATM charges, banks milked an easy rip-off for as long as they could. Soon they’ll have something better.
RBS readies Amsterdam move
The Royal Bank of Scotland will go ahead with its plan to move staff to Amsterdam if there is no clear Brexit deal.
Westpac sticks by wealth unit
Scott MurdochWestpac chairman Lindsay Maxsted has indicated the bank has no plans to offload its wealth management.
Life cover code falls short
MICHAEL RODDANThe industry faces legislative intervention as its draft code to cap fees and life insurance premiums falls short.
Big four banks scrap ATM fees
Scott MurdochThe big banks have axed ATM fees for customers of other lenders, as the Treasurer warned off any attempts to recoup fees.
Regulation ‘stifling small banks’
Michael RoddanThe nation’s smaller banks say they are paying the price for the misdemeanours of Australia’s biggest banks.
Morrison won’t budge on BEAR
Ben ButlerThe Treasurer has ignored the ABA’s plea to spare non-executive directors from the Banking Executive Accounting Regime.
Borrowers in rates firing line
Michael RoddanBorrowers have been put on notice that monthly repayments could be set to increase dramatically.
Kerr Neilson bullish on China
BEN WILMOTKerr Neilson has told Platinum Asset Management investors that concerns about the Chinese economy have eased.
$18bn in unclaimed super
Cliona O’Dowd, Samantha WoodhillAlmost $18 billion of lost super is languishing in accounts across the country, with NSW leading the pack for the most unclaimed funds.
Suncorp defends digital strategy
RICHARD GLUYASZiggy Switkowski says Suncorp’s digital marketplace strategy would deliver real value for shareholders.
CBA wealth boss joins exodus
Michael RoddanThe exodus of senior managers from CBA has continued with the exit of wealth management boss Annabel Spring.
Soul Patts taps into fin services
Cliona O’DowdDiversified investment house Washington H Soul Pattinson is investing in financial services.
CBA cuts ties with wealth arm
Michael RoddanThe $4 billion Colonial First State business has been put on the block as CommInsure is sold to Japanese buyer.
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