Australian Banking & Finance articles from December 2007

Australian Banking & Finance archives from December 2007

18th Annual Awards open for nominations: the 18th Annual Australian Banking & Finance magazine Awards nominations are now open.(NEWS)
December 1, 2007... Readers are now invited to send in nominations for any or all categories which will be placed before our judging panel and a shortlist of finalists will then be prepared. Once the shortlist has been announced, voting coupons will appear in...

Banks and climate change products: retail banks look to 'mainstream' sustainability as consumer demand for green products and services escalates.(SPECIAL REPORT: BANKING AND CLIMATE CHANGE)(Cover story)
December 1, 2007... [ILLUSTRATION OMITTED] It was only a few years ago that the notion of green banking or sustainable investment seemed out of the question for big, bad traditional banks, and something more likely for smaller, alternative financial...

Investing in climate change: the key to our future: investment banks are making green investments and starting green funds, proving that banks do actually have a conscience.(SPECIAL REPORT: BANKING AND CLIMATE CHANGE)
December 1, 2007... There will be a shift away from a carbon-based economy in the years ahead with climate change now lauded an 'economic force' that will drive a wave of investment opportunities according to a report by global investment bank Deutsche...

Outlook 2008: exclusive interview with Ralph Norris: speaking exclusively with Australian Banking & Finance, the CEO of Commonwealth Bank opened up on what he saw ahead in 2008 for his bank and the competition.(SPECIAL FEATURE: OUTLOOK 2008)
December 1, 2007... When speaking about what he sees for the year ahead, Norris says: "Generally I think 2008 will be a good year for Australian banking. I think the recent sub-prime issues and associated problems have seen a flight to quality which will benefit...

Gathering PACE: to ensure reliability and security, Polaris and the NSW Government prepare to launch a new centre to test financial services software.(NEWS)
December 1, 2007... Polaris Software, in conjunction with the NSW Government, are setting up a world-class specialist software testing lab--Polaris Application Certification Enterprise (PACE)--servicing the banking, financial services, insurance, manufacturing and...

Day appointed ANZ customer advocate.(NEWS)(Rhonda Day )(Brief article)
December 1, 2007... ANZ has appointed Rhonda Day as its new customer advocate. Day replaces Bill Robinson who has retired after holding the position since 2002. ANZ described the role of customer advocate, which is about resolving disputes that have not...

Deutsche responds to investment banking 'megatrends': Deutsche Bank managing director and head of global banking in Australia, Scott Perkins, spoke to Australian Banking & Finance magazine about what he describes as the 'megatrends' that will affect investment banking in Australia in the short to medium term future.(CIB: CORPORATE & INSTITUTIONAL BANKING)
December 1, 2007... According to Scott Perkins, corporate and institutional banking in Australia at the present time is primarily influenced by three clear economic or financial megatrends--volatile credit market conditions, further activity from financial...

Calm amid the global storm.(NEWS)
December 1, 2007... The annual reporting season for our five major banks has just finished with some impressive results. Amidst the global credit market turmoil, the majors showed their resilience to turn in combined cash earnings growth of 14.7 per cent over the...

Banks took the spirit of competition to Flemington this year for the Melbourne Cup, with Macquarie outdoing all their competitors for size and splendour in the Birdcage.(BEHIND the SCREENS)
December 1, 2007... [ILLUSTRATION OMITTED] Banks took the spirit of competition to Flemington this year for the Melbourne Cup, with Macquarie outdoing all their competitors for size and splendour in the Birdcage. However, Elliston Capital had the best A-list...

If the global credit crisis gains any further momentum, it would appear that St. George Bank's medium-size configuration makes it vulnerable, particularly to a possible raid from Melbourne.(BEHIND the SCREENS)
December 1, 2007... If the global credit crisis gains any further momentum, it would appear that St. George Bank's medium-size configuration makes it vulnerable, particularly to a possible raid from Melbourne. Needless to say, we shall watch closely for any moves...

Following the recent Macquarie Group restructure.(BEHIND the SCREENS)
December 1, 2007... Following the recent Macquarie Group restructure, which essentially split the banking and non-banking businesses, it is interesting to note that the shared 8th floor meeting rooms at the group's Sydney headquarters are now known internally as...

CIOs says "don't dump and run": offshoring, outsourcing, climate change and retaining talent were hot topics of this year's animated CIO panel discussion.(REPORT--CIO OUTLOOK)
December 15, 2007... [ILLUSTRATION OMITTED] With a panel consisting of CIOs Michael Harte of Commonwealth Bank, Michelle Tredenick of NAB, Neill Rose-Innes of Mortgage Choice and Iain Blacklaw of Bank of Queensland, the mood was light but the questions...

CIO outlook--the way ahead.(EVENT--CIO OUTLOOK)
December 15, 2007... The financial and IT elite came together to listen to some of Australia's finest CIOs in financial services. Offshoring, climate change, technological innovation, customer relationship management, global integration and service oriented...

NAB's John Stewart knows his ABCs: the charismatic CEO spoke candidly at the Australian Banking and Finance lecture about how be helped turn NAB around.(EXCLUSIVE--JOHN STEWART LECTURE)(Viewpoint essay)
December 15, 2007... [ILLUSTRATION OMITTED] "When you go back to 2004 and think, "What was wrong with NAB?" Well, income was stalled, costs were out of control and we had finance problems all over the world. I could go on all night. But those were the...

Inside 'Banker of the Decade': one of the most coveted awards in Australian banking serves as a crystal ball for the decade to come, says publisher Peter Charlton.(SPECIAL REPORT--BANKER OF THE DECADE)
December 15, 2007... [ILLUSTRATION OMITTED] According to Peter Charlton, last decade's winner of Banker of the Decade Don Argus is, in one word, "outstanding". "He ran National Australia Bank, and it was the premier bank. It grew and grew and grew and in...

Australia's best financial start-ups: after weeks of Australian Banking & Finance magazine tallying up nominations, here are the winners!(AUSTRALIA'S BEST NEW FINANCIAL START-UPS)(L.J. Hooker Financial Services)
December 15, 2007... Real Estate--L.J. Hooker L.J. Hooker Financial Services--the mortgage broking arm of the real estate company--has grown its loan book to over $2 billion and is on track to grow in excess of 25 per cent in this current financial year, all...

The best of banking IT suppliers: financial services software vendors in Australia are proliferating. But exactly who are they, what are they trying to sell you, and what distinguishes the best from the rest?(SPECIAL REPORT)(Company overview)
December 15, 2007... As online banking becomes an increasingly important channel, as information security threats increase, as core banking systems are upgraded, and as business processes are outsourced, Australian financial institutions rely more than ever on...

Annual review of banks: failed mergers, controversial acquisitions, bank-hopping CEOs and massive bonuses were huge headline hitters in 2007.
December 15, 2007... The dramatic series of financial make-ups and break-ups that have played out over the past 12 months would make any soapie writer envious. Banking executives from all four corners (or pillars) have begun pushing for the removal of the very...

18th Annual Awards open for nominations: the 18th Annual Australian Banking & Finance Magazine Awards nominations are now open.(NEWS)
December 15, 2007... PROUDLY SPONSORED BY "yes" OPTUS OPTUS BUSINESS Readers are now invited to send in nominations for any or all categories which will be placed before our judging panel and a shortlist of finalists will then be prepared. Once...

In search of greener pastures: is one of Australia's natives ready to pack its bags?(NEWS)
December 15, 2007... The dramatic series of financial make-ups and break-ups that have played out over the past 12 months would make any soapie writer envious. ANZ's appointment of its new CEO Mike Smith, whose departure from HSBC was described as a great loss...

NAB goes west with US purchase.(NEWS)
December 15, 2007... National Australia Bank has announced it is buying US regional bank, Great Western Bancorporation, for about US$798 million. Based in Sioux Falls, South Dakota, the acquisition of Great Western is viewed by NAB as a platform to replicate it...

St George loses second CIO in a year.(NEWS)
December 15, 2007... St George Bank group executive of Group Technology and Operations, Peter Clare, is resigning from the position at the end of this year. Clare stepped into the role in March following the retirement of long serving CIO John Loebenstein. ...

HSBC hoping for HAIL of Instos.(NEWS )(management of customer relations of HSBC Bank Australia Ltd.)(Brief article)
December 15, 2007... HSBC is targeting wholesale investors including institutional clients, asset consultants and financial advisors with its funds of hedge funds proposition. Known as HAIL, the acronym for HSBC Alternatives Investments Limited, it will...

ANZ funds marketing outfit.(NEWS)
December 15, 2007... ANZ is providing marketing investment company CommQuest with a debt facility of A$44 million. CommQuest owns a group of marketing services companies which operate under their own brand. Some A$35 million of the facility will be used to...

Dear banking friends.(Fashion, Lifestyle and Entertainment)
December 15, 2007... It's beginning to look a lot like Christmas so in this issue I suggest you take a break from some high pressure habits--replace with pleasurable R&R and getting refreshed to tackle a brand new year ahead. I've really enjoyed bringing you this...

Life's good.(Fashion, Lifestyle and Entertainment)
December 15, 2007... See the most dangerous and thrilling testosterone charged Sydney to Hobart yacht race kick off from the spectacular Harbour, get front row seats at the Test Cricket, then prepare for a star-studded line up of athletic high-calorie-burn sporting...

Discover the Jewel of Arabia.(Fashion, Lifestyle and Entertainment)
December 15, 2007... Travelers; combine your love of sea and luxury when you fly with Emirates who have just launched their new routes to Rome and Venice. Here's an exotic idea; vast majestic sand dunes extending to endless stretches of unspoilt beaches, deep green...

Christmas cheer direct from Sesame Street.(Fashion, Lifestyle and Entertainment)
December 15, 2007... Elmo, Cookie Monster, Oscar the Grouch and the rest of the Sesame Street gang are all household names and adorable characters that young kiddies grow up to love. There is a wonderful assortment of toys and products from which to choose, whether...

New dining Mecca.(Fashion, Lifestyle and Entertainment)
December 15, 2007... Just in time for festive feasting, Verandah Restaurant & Wine Bar has reopened following a three-stage multi-million dollar refurbishment. They offer a scrumptious, mouthwatering a la carte menu for lunch and dinner, ranging from seafood to...

The great cossie dream.(Fashion, Lifestyle and Entertainment)
December 15, 2007... [ILLUSTRATION OMITTED] Swimwear labels on the rise are Hallican Boodle (named after the nicknames of two sisters Halle and Savannah Purcell) and the latest Who is Angle? (polka dot design, pictured)--a sexy new attention grabber created by...

Fashionably punctual.(Fashion, Lifestyle and Entertainment)
December 15, 2007... Whether you're a high flying executive or modern maverick, convey the status of distinction as you count down the seconds into a new year with a BMW timepiece. The highly-anticipated new collection comprises five men's and ladies prestige...

The queen of cleansing comes to the king of blonde.(Fashion, Lifestyle and Entertainment)
December 15, 2007... [ILLUSTRATION OMITTED] Let me share a secret--indulgent, luxurious and private. Hairdresser to the rich and famous George Giavis has created an ambiance focused on exceptional customer service for men and women. Whether you are blonde, red...

Upgrade your cargo.(Fashion, Lifestyle and Entertainment)
December 15, 2007... [ILLUSTRATION OMITTED] One tip I've come to appreciate when going away to new places is taking a near empty suitcase as I always seem to return with more than I left with! Well, OK, maybe excess is a girl thing--but you may need to find...

A perky start to your day.(Fashion, Lifestyle and Entertainment)
December 15, 2007... The fresh aroma of coffee is hard to ignore. Don't leave your visitors frustrated and longing for a hot cuppa as you discuss boardroom agendas. Think of how often this has happened to you. Instead, seduce your clients and coworkers with a brand...

Opulence and grandeur of the Ottoman Empire.(Fashion, Lifestyle and Entertainment)
December 15, 2007... Designer Yeser Ozguney has released stunning new summer Harem and Agean Collection of fine jewelery inspired by the exotic richness and flamboyant style of the Ottoman Empire. Bold colours and strong contemporary shapes, skillfully fashioned...

Style eyes.(Fashion, Lifestyle and Entertainment)
December 15, 2007... Sunshades Eyewear have stocked up on the latest new range of sunnies for men and women. Croton, Le Specs, Mossimo, Fiorelli and a good range available in prescription too. Take advantage of your private health insurance rebate who will annually...

Upon receiving his award for Best Financial Start-Ups in Real Estate, Peter Bromley, general manager at L.J. Hooker Financial Services said, "I want to thank you very much for this recognition.(BEHIND THE SCREENS)
December 15, 2007... Upon receiving his award for Best Financial Start-Ups in Real Estate, Peter Bromley, general manager at L.J. Hooker Financial Services said, "I want to thank you very much for this recognition. It's very interesting when you mix bankers with...

John Stewart's lecture (see pages 4-5) was as entertaining as it was informative.(BEHIND THE SCREENS)
December 15, 2007... John Stewart's lecture (see pages 4-5) was as entertaining as it was informative. He commenced his lecture with, "Someone once introduced me by saying 'John Stewart doesn't know the meaning of failure. But he's Scottish, and there are a lot of...

Upon informing the crowd that his simple rule to success is employing people who were better than himself.(BEHIND THE SCREENS)
December 15, 2007... Upon informing the crowd that his simple rule to success is employing people who were better than himself, he said, "I know you may say in my case that's not a lofty ambition but I've done it for many years."

When showing the room NAB's Corporate Principles, he read out one of the behavioural requirements of the staff which was, "Tell it like it is (no spit).".(BEHIND THE SCREENS)
December 15, 2007... When showing the room NAB's Corporate Principles, he read out one of the behavioural requirements of the staff which was, "Tell it like it is (no spit)." He then joked, "What a limitation that is for me. I spit all the time! My own people can...

Always poking fun at himself, Stewart said, "Looking around this room, you're all a lot younger than me.(BEHIND THE SCREENS)
December 15, 2007... Always poking fun at himself, Stewart said, "Looking around this room, you're all a lot younger than me. I know most people are younger than me... I'm so old now I don't buy green bananas anymore."

Our CIO Outlook Panel Luncheon was also full of jibes and jokes.(BEHIND THE SCREENS)
December 15, 2007... Our CIO Outlook Panel Luncheon was also full of jibes and jokes, especially between NAB's Michelle Tredenick and CBA's Michael Harte.

On the issue of climate change, Tredenick said, "I feel a little bit more passionately about the issue than my colleagues on the forum.".(BEHIND THE SCREENS)
December 15, 2007... On the issue of climate change, Tredenick said, "I feel a little bit more passionately about the issue than my colleagues on the forum." Sometime later, in response to a question relating to retaining top IT talent, Harte retorted, "Well I...

MC Oriel Morrison accidentally asked how CIOs the world over enjoy themselves.(BEHIND THE SCREENS)
December 15, 2007... MC Oriel Morrison accidentally asked how CIOs the world over enjoy themselves, to which Tredenick said, "I'm sure you'll all love to hear."

Tredenick announced that there was a table at the luncheon of all of NAB's rising stars, to which Michael asked where they were.(BEHIND THE SCREENS)
December 15, 2007... Tredenick announced that there was a table at the luncheon of all of NAB's rising stars, to which Michael asked where they were. The following exchange occurred: Tredenick: "I've already paced yours out Michael, so they're sprinkled...

Model risk and control, an important issue for boards and management.(NEWS)
December 15, 2007... Insurance companies rely on models in a wide variety of business areas and the overall quality of these tools and the accuracy of their underlying assumptions are critically important. Board members and senior executives need to understand the...