Australian Banking & Finance articles from April 2005

Australian Banking & Finance archives from April 2005

Aussie John takes the credit: the long awaited Aussie credit card arrived with the launch of the Aussie MasterCard a transparent credit card with ongoing interest rates of 9.9 per cent.(John Symond)
April 15, 2005... With one in three Australians describing their current credit card provider as ,sharks', consumer champion and managing director of Aussie, John Symond, launched the 'Aussie MasterCard'. As expected John Symond let fly with his...

How we will shop tomorrow.(NEWS)
April 15, 2005... If you want to know how we will shop tomorrow there's no point in studying only current consumers. The key to the future can be found by observing today's first-generation "digital natives" with a penchant for computer games, or bright young...

HSBC's geater Asia expansion plan: HSBC Holdings Group Chief Executive Stephen Green talks to Bloomberg's Guy Collins about developing expansion plans for Europe's largest bank in Asia.(Interview)
April 15, 2005... COLLINS: Let's talk about Hong Kong. Wealth management, that's a business you're building up there. You're hiring people. What's the strategy? What's the timetable? GREEN: So far as Hong Kong people are concerned, wealth management is an...

The money store becomes City Pacific Finance after an exciting year of change.(Brief Article)
April 15, 2005... The Money Store--nominated for an award in this year's Australian Banking & Finance Awards--is now known as City Pacific Finance after an exciting 12 months of change and growth. The first change occurred in March 2004 when The Money Store,...

The St George SME awards.(Small and Medium Enterprises)
April 15, 2005... FIRST CHARLTON COMMUNICATIONS are pleased to introduce the St. George SME Awards, Australia's first national program recognising best practice amongst Small and Medium Enterprises (SMEs). The awards are organised on business size (based on the...

SIA and AIBF to merge? The Securities Institute of Australia (SIA) and the Australasian Institute of Banking and Finance (AIBF) have today announced that following an extensive review they are considering a merger subject to member approval from both organizations.
April 15, 2005... The mission, objectives and cultures of the two organizations are well aligned, and the changing nature of the banking and financial services industry means that the respective memberships have much in common. By leveraging the capabilities and...

Axiss-led mission to China generates business.(Brief Article)
April 15, 2005... The recent Axiss-led delegation of Australian finance education and training providers to China has been successful in generating business for Australian finance education and training providers, reflecting the high value placed internationally...

Navigating through the compliance maze.(NEWS)(Brief Article)
April 15, 2005... The vexed issue of compliance has compelled the insurance and financial services sectors to overhaul their internal management systems and one organization, the Chubb Insurance Group of Companies, has successfully applied a new software...

Optus annual Melbourne bankers lunch.(NEWS)(Brief Article)
April 15, 2005... Optus once again hosted the special Melbourne lunch for financial services as part of the annual Awards program for Australian Banking & Finance. Special guest was the Victorian Treasurer, the Hon. John Brumby and moderator of an absorbing...

Deep and liquid markets: BNP Paribas and Citigroup granted prime status.(Brief Article)
April 15, 2005... The Australian Financial Markets Association (AFMA) has increased the number of banks with 'prime' status from four to six, enabling a wider range of investment grade securities in the domestic short-term money market. From 1 May 2005, BNP...

China cleans up its act, but is it effective?(anti-corruption measures)(Brief Article)
April 15, 2005... China is showing in a large-scale way that it means business. Seriously? The South China Morning Post quotes Guo Shuqing, Deputy Governor of China's central bank saying that china Construction Bank (CCB) and Bank of China (BoC) have found...

Bank jobs on the downturn but don't blame ATMs: Asia's top banks are decreasing their employee numbers, despite an improving economy. Are ATMs to blame?(Automated teller machines )(Brief Article)
April 15, 2005... Thomas Schulze, regional marketing director of Wincor Nixdorf, says that "ATMs are not replacing staff in the branch, but they are helping tellers get rid of time consuming processes that can easily be handled by a self-service machine. This...

The great Singapore showdown: the last time that brokerage Cantor Fitzgerald was in the news headlines in Singapore it was because the company's New York head offices occupied the top floors of the World Trade Centre.(ASIA BANKING NEWS)
April 15, 2005... Now, Cantors, one of Singapore's Big Three players, is involved in an amazing headhunt spat with rival Prebon Yamane (the third being Traditions). Within the month, 61 of Prebon's brokers resigned, significantly all at roughly the same...

Indonesia: out with the old and in with the new.(banking industry)(Industry Overview)
April 15, 2005... Indonesia is a nation rapidly regaining its economic fitness. The country's people are improving their lots and are driven by an optimism, which is sweeping along a heavily consolidating banking sector. Even the tragedy of the Asian Tsunami...

Melbourne roundtable.(Brief Article)
April 15, 2005... The Victorian Treasurer John Brumby held court at the Optus Melbourne financial services launch by Australian Banking & Finance magazine last week. Promoting Victoria's greatness, Brumby was trumped by fellow Victorian Robert Gottliebden who...

Rodent plague.(Brief Article)
April 15, 2005... What is it with performing rats and financial services advertisements at the moment? Both Aussie and Esanda are running rodent ads--at least Aussie's are white performers compared to Esanda's brown variety. Yuk!

Google? Whatever next?(outright condemnation )(Brief Article)
April 15, 2005... Nick Minchin has set the cat amongst the banking pigeons with his unorthodox ideas about disposing of the remainder of the Telstra stake through a "google" auction. There was much muttering in and around Martin Place about what one banker...

Business as usual?(plans to reopen its currency trading desk )(Brief Article)
April 15, 2005... NAB has announced that it is to reopen its currency trading desk in May but out of work traders need not dust off their interview suits and polish their resumes. The desk, we are told by an insider is set to reopen "more than anything, as a bit...

Capital gains.(Brief Article)
April 15, 2005... "Incredibly, my research shows the universe is expanding at precisely the same rate as the U.S. budget deficit." [ILLUSTRATION OMITTED]

New product development: the development of new products that are attractive to target markets is something that the banking industry is continually looking at.(collateralised commodity obligation)
April 15, 2005... One recent development internationally has been development of the first collateralised commodity obligation (CCO) designed to provide fixed income investors with access to commodities as an asset class. Traditionally, investors are used to...