Australian Banking & Finance articles from June 2007

Australian Banking & Finance archives from June 2007

Norris is our best banker, NAB our best bank: the 2007 Australian Banking & Finance magazine Awards have recognised Commonwealth Bank chief executive, Ralph Norris, as Australia's best financial services executive. National Australia Bank was voted this country's best financial institution.
June 15, 2007... OUR READERS HAVE AGAIN voted en masse in the 17th annual Australian Banking & Finance magazine Awards to recognise the extraordinary progress of the Australian financial services industry and the achievements of the I sector's most dynamic...

Retail banks fail to promote customer loyalty and advocacy: a high profile report suggests that Australia's financial institutions must do more to provide customers with the unique retail experiences they demand.(NEWS)
June 15, 2007... ACCORDING TO A RECENT UNISYS research study on customer-centricity in the Australian retail banking market, this country's financial institutions face a major challenge in a yawning gulf that exists between customer satisfaction and customer...

Canny Kiwi revitalises CBA: inspired leadership by an accomplished New Zealander has brought about profound cultural change, improved customer service levels and successful international expansion for the Commonwealth Bank of Australia.
June 15, 2007... BEST BANKER Ralph Norris NOMINEES: Mike Cutter--GE Money, Gall Kelly--St.George Bank, David Liddy--Bank of Queensland, John McFarlane--ANZ, David Morgan--Westpac, Allan Moss--Macquarie Bank, John Mulcahy--Suncorp Metway, Ralph...

NAB back from the brink: after a difficult period in the early 2000s, National Australia Bank is now more dynamic and more profitable than ever.
June 15, 2007... BEST NATIONAL FINANCIAL INSTITUTION National Australia Bank NOMINEES: AMP, ANZ, Commonwealth Bank of Australia, Macquarie Bank, National Australia Bank, St.George Bank, Suncorp Metway, Westpac National Australia Bank is a...

Aussie's confidence grows: following a major brand repositioning, Aussie looks to a bright future as a leading Australian integrated financial services institution.(Aussie Group of Companies Proprietary Ltd.)
June 15, 2007... BEST NON-BANK FINANCIAL INSTITUTION Aussie NOMINEES: AMP, Aussie, GE Money, IAG, Pepper Home Loans, RAMS, Resi Mortgage Corp, Virgin Money, Wizard Since its establishment in February 1992, the Aussie Group has grown to become...

Marriott commended for money management.
June 15, 2007... BEST CHIEF FINANCIAL OFFICER Peter Marriott, ANZ NOMINEES: Phil Coffey--Westpac, David Craig--Commonwealth Bank, Robert Hines--Bank of Queensland, Peter Marriott--ANZ, Steve McKerihan--St.George, Chris Skilton--Suncorp, Michael...

'Fifth major' a force in business banking: St.George's 'Best Business Banking' program has contributed to its ability to compete head-to-head with Australia's 'big four' banks. Not bad for an institution that, a decade and a half ago, was a retail-consumer-oriented regional building society.
June 15, 2007... BEST BUSINESS BANK St George Bank NOMINEES: ANZ, Commonwealth Bank of Australia, National Australia Bank, St.George Bank, Westpac St.George is now a serious force in business banking, with its institutional and business...

No complacency for lean, efficient HSBC: HSBC in Australia has streamlined its operations to continue meeting the local and global needs of both domestic and international companies.
June 15, 2007... BEST FOREIGN BANK HSBC NOMINEES: ABN AMRO, Citigroup, Deutsche Bank, HSBC, ING Direct, Rabobank, Rothschild, UBS Investment Bank Headquartered in London, the HSBC Group is one of the world's largest banking and financial...

A simple, effective site--on many levels.(Brief article)
June 15, 2007... BEST WEBSITE ING Direct NOMINEES: Write in category ING DIRECT AGAIN HAS THE Best Website in the Australian financial services industry. That's because it is so relevant to consumer's needs, so comprehensive and so...

Australia's local international institution: Macquarie Bank continues to make a name for itself--and for Australia--in global investment banking circles.
June 15, 2007... BEST INVESTMENT BANK Macquarie Bank NOMINEES: ABN AMRO, Babcock & Brown, Deutsche Bank, Goldman Sachs JBWere, Investec, JP Morgan, Macquarie Bank, Merill Lynch, UBS Investment Bank Established in 1969, Macquarie Bank has...

The banking industry's night of nights.(CELEBRATING EXCELLENCE IN BANKING & FINANCE)
June 15, 2007... Australia's best and brightest financial services people attended the Australian Banking & Finance magazine Awards presentation ceremony in Sydney to celebrate the industry, s remarkable progress. The event was sponsored by Optus, the master of...

Commonwealth's IT strategy is all Harte.
June 15, 2007... BEST C.I.O/EBANKER Michael Harte Commonwealth Bank NOMINEES: Iain Blacklaw--Bank of Queensland, Diana Eilert--Suncorp Metway, Mike Grime--ANZ, Michael Harte--Commonwealth Bank, John Loebenstein--St. George Bank, Simon...

Suncorp's sunny outlook.
June 15, 2007... BEST REGIONAL BANK Suncorp NOMINEES: Adelaide Bank, Bank of Queensland, BankWest, Bendigo Bank, Suncorp OVER THE COURSE OF A CENTURY of operations in Queensland, Suncorp has grown into an integrated financial services provider...

ANZ understands advertising.
June 15, 2007... BEST BANKING & FINANCE PROMOTION "Wherever, Whenever" ANZ Home Loans NOMINEES: ANZ Home Loans "Wherever, whenever", Aussie MasterCard, GE Money Low Rate MasterCard, HSBC January Sale, Westpac's Equator Principles Campaign THE...

GE plays its cards right: the Best New Product in financial services this year is the ultimate in low-rate credit cards.
June 15, 2007... BEST NEW PRODUCT Low Rate Mastercard GE Money NOMINEES: ANZ Travel Card, GE Money Low Rate MasterCard, National Australia Bank iSaver, St George Complete Freedom Account, Suncorp iBus Maximiser, Westpac Altitude Platinum Card ...

The first choice in mortgage broking.
June 15, 2007... BEST MORTGAGE BROKER Mortgage Choice NOMINEES: Aussie, Choice Home Loans, City Pacific Finance, L.J. Hooker Financial Services, Mortgage Choice, The Mortgage Bureau ONE OF AUSTRALIA'S LEADING mortgage broking firms, Mortgage...

Moss the master banker.(Allan Moss)(Brief article)
June 15, 2007... HALL OF FAME Allan Moss AUSTRALIA'S PRE-EMINENT investment banker is certainly a deserved inductee into the Australian Banking & Finance magazine Hall of Fame. Allan Moss was appointed deputy managing director of Macquarie Bank...

Eco-friendly Westpac: Westpac Banking Corporation leads the Australian financial services industry in its commitment to managing its impact on the environment and to supporting initiatives with high environmental benefit.
June 15, 2007... SUSTAINABLE BANK OF THE YEAR Westpac NOMINEES: Write in category Westpac's environmental policy was initiated in the early 1990s. In 1992, it became one of the founding signatories to the United Nations Environment...

IMB building prosperity.(Brief article)
June 15, 2007... BEST BUILDING SOCIETY IMB Building Society NOMINEES: Heritage Building Society, Home Building Society, IMB Building Society, Newcastle Permanent, Pioneer Permanent Building Society, The Rock Building Society, Wide Bay Australia...

Credit to Police & Nurses.
June 15, 2007... BEST CREDIT UNION Police & Nurses Credit Society NOMINEES: CPS Credit Union (SA), Credit Union Australia, Gateway Credit Union, Police & Nurses Credit Society, mecu THIS YEAR'S BEST CREDIT UNION is a success story that is...

ANZ launches new corporate wardrobe collection: ANZ branch staff will soon be wearing a vibrant new look.(NEWS)(Australia and New Zealand Banking Group Limited)(Brief article)
June 15, 2007... The bank's latest corporate collection wardrobe was unveiled at a fashion parade recently and will be worn by up to 6,500 ANZ branch staff across Australia from October. Fashion enters ANZ's Corporate Collection range with ANZ staff...

Organisational make-over for Aussie: Mortgage broking, home loan and credit card provider, Aussie, is undergoing an extreme organisational make-over with James Symond, nephew of founder John Symond, taking over much of the responsibility for day-to-day management.(NEWS)
June 15, 2007... Several new senior managers have been appointed recently, including general manager finance and technology John McDonald, general manager marketing Stuart Tucker, head of distribution Greg Pawson, head of retail Paul Avery, and financial...

OZ banks black and green.(NEWS)
June 15, 2007... ACCORDING TO KPMG'S MOST recent Financial Institutions Performance Survey, Australian banks are competing as aggressively on environmental sustainability as on traditional factors such as price and service. The five major banks--NAB, CBA,...

Ansett wins first round fight with Diners.(NEWS)
June 15, 2007... THE SHEET REPORTS THAT THE Supreme Court of Victoria has ruled in favour of Ansett Airlines administrators in a dispute over $9.6 million that the failed airline claims it is owed by Diners Club. The ruling rejected defences and...

Customer-centric breakfast.(UNISYS CUSTOMER CENTRICITY--PICTORIAL)
June 15, 2007... Retail banking professionals gathered recently at a breakfast hosted by Australian Banking & Finance magazine to hear Unisys, Robert Dewar and Oracle's Aran Flanagan deliver remarkable incites in to customer-centricity in financial services....

On the record.(NEWS)(opinion on customer loyality)(Brief article)
June 15, 2007... "Those customers who are emotionally bonded to your brand are more loyal, they stay longer, they tend to buy more, they tend to be more profitable and, most importantly, they share their positive views of your brand. Achieving this emotional...

FirstMac's biggest bond issue: non-institutional mortgage finance funder, FirstMac, has announced the launch of a residential mortgage backed (RMBS) transaction targeted at domestic and offshore investors.(NEWS)
June 15, 2007... The transaction comprises two senior tranches of 500 million [euro] and A$500 million. The deal will be FirstMac's largest to date and is rated by Standard and Poor's, Moody's and Fitch. The collateral pool for the A$1.4 billion FirstMac...

Asian Pacific acquires Adviser Solutions: Asian Pacific Limited subsidiary AFS Compliance Pty Ltd has entered into a Heads of Agreement to merge with Advisor Solutions Pty Lid to form Australia's second largest financial services compliance provider.(NEWS)(Australian Financial Services)(Brief article)
June 15, 2007... The acquisition will be completed by the issue of Asian Pacific Limited ordinary shares worth $1,500,000 to the principals of Adviser Solutions. The cost of the acquisition is based upon an approximate multiple of six times EBIT (plus or minus...

Commemorating 17 years of Australian Banking & Finance Magazine Awards.(CELEBRATING EXCELLENCE IN BANKING & FINANCE)
June 15, 2007... SPECIAL MESSAGE FROM STRATEGIC PAYMENTS SERVICES Strategic Payments Services (SPS) is proud to continue its association with the Australian Banking and Finance Awards. As a new player in the Australian financial services market we strive...

Executive merry-go-round on high speed.(management of executives and economic aspects of banking industry)
June 30, 2007... The appointment of Michael Smith to the ANZ top job and the early departure of John McFarlane are just the latest of many executive movements involving the major banks in the past six months. With Australian banks achieving a sustained...

Macquarie shows green credentials.(environment management of Macquarie Bank ltd)
June 30, 2007... At a recent Australian Banking & Finance magazine event, Macquarie Bank managing director and chief executive officer Allan Moss outlined the ways in which his organisation is responding to the challenges of environmental sustainability. ...

Businesses ill-prepared for cross-border fraud.(NEWS)
June 30, 2007... According to a recent KPMG survey, multinationals are vulnerable to cross-border fraud and risk financial loss, market capitalisation, company reputation and investor confidence. They also create a breeding ground for fraudsters. Today,...

ING launches investment research company.(Brief article)
June 30, 2007... ING has launched a new investment research company, Financial Facts Pty Ltd, to provide client and adviser-focused research solutions for advisers, fund managers and other research houses. The research team at the core of the new company...

Report reveals lower superannuation fees: the Investment and Financial Services Association (IFSA) has released the latest findings of a report by Rice Warner Actuaries on superannuation fees by market segment.(NEWS)
June 30, 2007... IFSA'S SUPERANNUATION FEES survey is conducted every two years and this year's report assesses the industry just one year after the introduction of Superannuation Choice and clearly shows that competition and increasing funds under management...

Adelaide hosts MFAA conference.(Mortgage and Finance Association of Australia)(Brief article)
June 30, 2007... Over 1,000 mortgage and business finance arrangers from around the country gathered in Adelaide between 30 May and 1 June to exchange ideas at the national conference of the Mortgage and Finance Association of Australia (MFAA). ...

Skirmish over superwoman.(mergers, acquisitions and divestments of Superwoman Financial Solutions Group)(Brief article)
June 30, 2007... NSW SUPREME COURT ORDERS have kept alive a counter-offer for the Superwoman Financial Solutions Group. According to the group's founder, Tim Harrison, without the court ruling ING-owned Millennium3 would have gained control of three...

Tata to launch financial services business unit.(NEWS)
June 30, 2007... IT SERVICES AND OUTSOURCING organisation Tata Consultancy Services (TCS) has announced the formation of a new strategic business unit, TGS Financial Solutions, to drive growth in its financial products business. The unit will also leverage...

On the record.(NEWS)
June 30, 2007... "Corporate social responsibility is not just an 'add-on' for Macquarie. It is our fundamental belief that we should be contributing in a really positive way to the communities of which we are a part." Macquarie Bank managing director and...

Work-ready graduates in high demand by banks; work-ready graduates: the Australian financial sector demands them of universities, but is the higher education system delivering? By formalising relationships with business and developing practical and innovative ways of teaching students, it is most certainly trying.(SPECIAL FEATURE EDUCATION)
June 30, 2007... UNIVERSITIES HAVE LONG BEEN criticised for not developing 'work-ready graduates' for the banking and finance sector. Meanwhile, the provision of an academic environment where students can grow into specialised, well-rounded employees is a major...

Moss lecture draws hundreds.(ALLAN MOSS LUNCHEON--PICTORIAL)
June 30, 2007... Macquarie Bank managing director and chief executive officer, Allan Moss, recently spoke to a packed house at a lecture in Sydney that was hosted by Australian Banking & Finance magazine and sponsored by Cisco. Allan Moss ...

The financial crime column: this occasional column presents opinions on financial crime and anti-money laundering from leading experts in the field.(NEWS)(Column)
June 30, 2007... The financial services sector remains a priority target for increasingly sophisticated criminals. At KPMG we've noted several global trends in financial crime affecting this sector. Growing concerns about fraud, identity theft and cyber...

IAG still committed to China; although Insurance Australia Group Limited (IAG) has suspended its planned investment in China Pacific Property Insurance Company (CPPI), the company has declared that it remains committed to the Chinese market in the long term.(NEWS)
June 30, 2007... Although Insurance Australia Group Limited (IAG) has suspended its planned investment in China Pacific Property Insurance Company (CPPI), the company has declared that it remains committed to the Chinese market in the long term. In...

2007 features list.(NEWS)
June 30, 2007... 2007 features list Issue Date Feature Event 10 June * Victoria--Financial * Leaders Lecture Services * Top 50 Insurers In ...