Financial Services

NAB cuts exec bonuses amid charm offensive

National Australia Bank has cut executive bonuses as it continues its attempt to regain consumer trust amid the fallout of the Financial Services Royal Commission.

Business advice with CoreData's Kristen Turnbull

In this podcast Mark Pownall talks to Kristen Turnbull from CoreData about her specialist subject of market research, most notably the impact of the current Royal Commission on banks and financial services businesses.

NAB moves Baird as inquiry claims scalp

National Australia Bank has tasked former NSW Premier Mike Baird with leading its retail unit after consumer boss Andrew Hagger decided to leave the bank following his mauling at the financial services royal commission.

ANZ faces Asic proceedings over placement

The corporate regulator has commenced civil penalty proceedings against ANZ Banking Group over allegations the bank breached its continuous disclosure obligations during a 2015 capital raising.

NAB to face court on fees for no service

Australia's corporate watchdog filed a lawsuit on Thursday against superannuation funds run by the wealth management unit of National Australia Bank, accusing them of charging fees to hundreds of thousands of retirees for services the were not provided.

ANZ and CBA lift home loan rates

Commonwealth Bank and ANZ have become the latest major banks to lift their home loan interest rates, with both institutions blaming rising international borrowing costs.

Goldfields raises $20m

Goldfields Money has tapped investors for $20 million, with its planned merger with mortgage aggregator Finsure nearing completion.

Westpac fined $35m for home loan conduct

Westpac has agreed to pay a $35 million fine after admitting to wrongly assessing people's ability to repay mortgages.

Dodgy WA accountant loses sentence appeal

An accountant who pocketed almost $1.8 million after lodging more than 100 fraudulent income tax returns has failed in a bid to have his eight-year sentence reduced.

Tech Scene- Bankwest messaging service

Bankwest has launched an in-app messaging service that allows its customers to have their questions and queries answered securely, quickly and easily.

Perth tax adviser facing $35m tax bill

Perth accountant Peter Moltoni has been hit with a $34.5 million tax assessment after the ATO took a close interest in disputed payments by his former client Pankaj Oswal.

Reid resigns as Cashies improves profit

Cash Converters International has posted a $22.5 million profit for the 2018 financial year, while also announcing the resignation of chief executive Mark Reid.

Rosser still dreaming with his feet on the ground

Brad Rosser brings diverse experience with Bond Corp, McKinsey and Co, Virgin and Unilever Ventures to his current focus on startups.

AMP hires ex-Credit Suisse exec as new CEO

Troubled financial services giant AMP has appointed long-time Credit Suisse executive Francesco De Ferrari as its new chief executive, effective December 1.

Back to basics for banks

Investors seem unconcerned by the fallout from the banking royal commission, with banks’ shares rising despite the flood of bad news.

Perth lenders merge in $11m deal

Perth-based lenders Fair Go Finance and Capfin Money have announced plans to merge in a deal under which Frankfurt-listed MyBucks will sell a 60 per cent stake in the new entity to its former chief executive Tim Nuy.

HBF launches high-tech city branch

HBF last night launched its new Perth city branch at Kings Square, which includes a raft of modern technology experiences including a Skype station and self-service digital claims processing.

Perth accountant pleads guilty to fraud

Perth accountant Neil Alessandrino has pleaded guilty to a rolled-up fraud charge in the District Court this week.

IDS builds super niche

With more than $1.2 billion in funds under management, IDS Super is carving out a fast-growing niche in the self-managed superannuation fund sector.

Diverse businesses deliver social impact

Companies as diverse as multinational Konica Minolta and local startup Kirrikin are operating as both for-profit and for-purpose businesses.

Somers & Partners links with Mejority Capital

Perth finance executives Andrew Frazer and Simon Lill have agreed to a strategic alliance between their respective businesses.