News

01
Jul

Slater and Gordon widens NAB class action

Slater and Gordon widens NAB class action Slater and Gordon has widened its class action case against National Australia Bank to include people who were sold personal loan insurance. The firm’s class action issued in 2018 on the back of the Banking Royal Commission argues thousands of NAB customers were sold worthless credit card insurance […]

01
Jul

ANZ’s NZ CEO departs after expenses review

ANZ’s NZ CEO departs after expenses review ANZ’s NZ chief executive has left the bank after an internal review raised concern among board members over his personal expenses. ANZ on Monday said David Hisco had accepted that “characterisation of the expenses falls short of the standards required” and had been replaced as ANZ NZ CEO […]

01
Jul

Six tips that will get you a better mortgage rate

Six tips that will get you a better mortgage rate Interest rates are heading south, which helps borrowers’ wealth to head north. This month’s interest rate cut by the Reserve Bank of Australia is tipped to be the start of a new rate-cutting cycle that could drop the official cash rate from 1.5 per cent […]

01
Jul

Westpac hires business bank boss from HSBC

Westpac hires business bank boss from HSBC Westpac has appointed Guilherme Lima as chief executive of its business bank. Mr Lima, who was previously HSBC’s head of wealth management in Hong Kong, will join Westpac’s expanded business unit later this year. Westpac had been looking to fill the role since March, when it announced it […]

01
Jul

BOQ CFO Matt Baxby to depart in October

BOQ CFO Matt Baxby to depart in October Bank of Queensland chief financial officer Matt Baxby has announced his departure, two weeks after the regional lender appointed a new chief executive. Mr Baxby will depart after the full-year results in October, a month after former Westpac executive George Frazis assumes the role of chief executive. […]

01
Jul

NZ central bank seeks reports from ANZ

NZ central bank seeks reports from ANZ ANZ New Zealand has pledged to co-operate with requests from the country’s central bank to provide two reports assuring it is operating in a prudent manner. The first report will cover ANZ NZ’s compliance with the Reserve Bank’s current and historical capital adequacy requirements The second will assess […]

01
Jul

Westpac to overhaul executive bonuses

Westpac to overhaul executive bonuses Westpac has admitted its internal culture can “dilute” accountability for failings and is overhauling how it calculates executive pay in response to last year’s protest vote by angry shareholders. The country’s second largest bank said on Monday that it recognised it had not gone far enough with the cuts it […]