This Month
CBA rally threatens to dethrone BHP as ASX top stock
A 25 per cent rally in the country’s largest bank has placed it within striking distance of the miner, which has been Australia’s most valuable listed company for more than two years.
- Updated
- Joshua Peach and Tom Richardson
![Westpac chief executive of institutional banking Nell Hutton. “When I thought about where I could have an impact, it made sense to think about the big four [banks].”](http://web.archive.org./web/20240623030834/https://static.ffx.io/images/$zoom_0.4147%2C$multiply_2%2C$ratio_1.777778%2C$width_1059%2C$x_837%2C$y_125/t_crop_custom/c_scale%2Cw_140%2Cq_88%2Cf_auto/cd94f78169c2fc934117b043efc5b34161f75ab0)
From Goldman Sachs to Westpac, Nell Hutton is climbing the ladder
Having reached the top of the Wall Street giant by her mid-40s, the career banker has big plans to turn around Westpac’s once-dominant institutional bank.
- James Eyers
The key person in NAB succession wasn’t the new CEO
National Australia Bank’s handover to new CEO Andrew Irvine is being held up as the new gold standard in succession planning. Chairman Philip Chronican explains how it went down.
- Anthony Macdonald
Mastercard’s call to save open banking
If Treasury can iron out the teething issues, the government’s consumer data right is ready for take off, according to a new report from the US payment giant.
- James Eyers
NAB clarifies crypto strategy with investment in Zodia Custody
NAB Ventures joins Standard Chartered and Northern Trust on the register of London-based Zodia, revealing NAB’s crypto play may involve custody services.
- James Eyers
Australia Post warns ‘clock is ticking’ on its regional bank services
The government-owned postal service says it wants to strike new, more expensive deals with lenders to prevent Bank@Post falling into financial loss.
- James Eyers
- Updated
- Payments
RBA flags BNPL fee crackdown in broader probe into credit cards
The central bank’s head of payments says it will launch a review of regulations as soon as it is handed the power to do so under new legislation in parliament.
- Updated
- James Eyers
Why Regal’s Phil King is shorting CBA
The Regal Partners investment chief has made the so-called “widowmaker” trade in betting against the nation’s largest bank.
- Joshua Peach
CBA unveils aggressive business banking strategy to take on Macquarie
Among measures outlined by the bank is a plan to target $20 billion in deposits real estate agents hold for renters, a niche dominated by Macquarie.
- Michael Bleby, James Eyers and Lucas Baird
CBA has fighting words as it prepares to get one back at Macquarie
Commonwealth Bank’s move to chase $20 billion in real estate agents’ bank accounts seems bitsy, until you realise who it is going after.
- Anthony Macdonald
APRA objects to small bank claims on ‘same’ regulation
The Customer Owned Banking Association says its members are ‘regulated in the same way’ as listed banks. APRA says that is false ahead of a new inquiry.
- James Eyers
NAB kills its stablecoin, bankers decamp to form Ubiquity
The bank canned its digital Australian dollar, known as the AUDN, so Rob Waugh and Drew Bradford left to set up their own product, to be called Ubiquity.
- James Eyers
Westpac to follow CBA by dumping Hayne-era bonus caps for bankers
Westpac chief executive Peter King said he was “considering our approach to ensure we remain competitive and keep the best bankers”.
- Lucas Baird and James Eyers
Judo Bank poaches APRA’s top bank supervisor
Renee Roberts, who led the prudential regulator’s bank supervision teams, will from September join one of the companies she monitored as chief risk officer.
- James Eyers
Need to own a bank stock? Citi says ignore CBA at your peril
While Commonwealth Bank is the least preferred major bank stock among brokers because of its lofty price tag, Citi believes Australia’s largest lender will continue to outperform its peers.
- Alex Gluyas
Pengana, La Trobe bet on investors wanting access to US private credit
The two local financial institutions are separately partnering with Morgan Stanley and Mercer as traditional sources of debt become “completely irrelevant”.
- Lucas Baird and James Eyers
Fortunes to be made as the private credit boom is going public
Once a cottage industry, private credit is now attracting billions of dollars, reshaping the financial system and minting new fortunes.
- Jonathan Shapiro
Damning Tiwi Island judgment makes bank CEOs wary of in-person visits
Major lenders had promised to send bosses to meet traditional owners near Santos’ Barossa gas project. The Federal Court has made them reconsider.
- James Eyers
Boost for Afterpay as Block drops plans for Cash App in Australia
Afterpay Plus will make buy now, pay later more ubiquitous, says Nick Molnar, in his first public comments on the growth strategy in Australia post-acquisition.
- James Eyers
New MoneyMe chairman accuses banks of stunting competition
The government’s open banking regime “hasn’t worked as designed”, nearly four years after its introduction, new MoneyMe chairman Jamie McPhee said.
- Lucas Baird and James Eyers
