Australian Banking & Finance articles from October 2007

Australian Banking & Finance archives from October 2007

Australian bank stocks ride global equities roller-coaster: in the wake of the recent mortgage meltdown and credit crunch, the share performance of Australia's financial institutions has reflected the volatility of global equities markets.
October 15, 2007... [ILLUSTRATION OMITTED] In June, at the close of last financial year, there appeared to be only one direction for Australian shares--up. Leading this charge of the bulls were Australian bank stocks. In recent months, since that time,...

Ratings agencies under pressure: amid accusations that international credit ratings companies were at least partially responsible for the US sub-prime loan situation and the subsequent global liquidity crisis, some commentators are asking about implications for Australian financial institutions if we lose faith in such agencies?
October 15, 2007... Government regulators and politicians in the United States and elsewhere are threatening to tighten oversight of international credit ratings companies--such as Standard & Poor's, Moody's and Fitch Ratings--following allegations that they may...

ANZ plans for rural China.(Brief article)
October 15, 2007... Incoming ANZ chief executive, Michael Smith, has outlined his plans to expand ANZ's rural banking business into China. In an address to an economic advisory council meeting in China's western province of Chongqing, Smith said ANZ has a...

Chinese banks told to go green.(NEWS)
October 15, 2007... A government official has advised that China's state run commercial banks should invest more in sustainable and renewable projects. Yang Fuqiang of the US based Energy Foundation, which advises the Chinese government on energy-saving...

Lessons learned from ethical hacking.(methods of preventing computer hacking)
October 15, 2007... Many organisations have their digital networks attacked on a daily basis. Some of these attacks bring into question the viability of an organisation's information technology practices, if not the company's data security as a whole. So what...

Finance of the future: towards a target operating model.
October 15, 2007... The pressure on Finance functions has been steadily increasing in recent years. This is especially true in heavily-regulated financial institutions such as insurance companies. From outside the company, new regulatory frameworks such as IFRS,...

The Reserve Bank's two big days: the RBA's governor and deputy governor both publicly praised the state of our financial markets over two eventful days.
October 15, 2007... Even though the Reserve Bank's deputy governor Ric Battellino and governor Glenn Stevens spoke at different events over two days in Sydney, they both had the same clear message for Australia: "We're doing okay." Addressing the Asia Society...

Bancassurance: a dirty word? Banks that provide insurance services no longer want to call themselves the 'B' word.(SPECIAL REPORT: BANCASSURANCE)
October 15, 2007... Although he has been previous been deemed "the architect of bancassurance" at Suncorp, chief executive John Mulcahy has other ideas about what his group actually is. "We wouldn't describe our model as 'bancassurance'--Suncorp is a...

Information insecurity: your confidential information is in more danger than you think, with the 'hacker' finding a new home in criminal territory.(SPECIAL FEATURE: INFORMATION SECURITY)(Company overview)
October 15, 2007... The value of competitive edge was recently exemplified when Formula 1 team McLaren was fined AS 119 million dollars and stripped of all points in the constructors' standings by the World Motor Sports Council for allegedly using leaked secret...

Super economy eats Aussie food.(Fashion, Lifestyle and Entertainment)
October 15, 2007... If you're sushi-ed out and prefer some Aussie tucker on your next business trip to Tokyo, check out the latest project from our homegrown virtuoso--celebrated Aussie chef and restaurateur Luke Mangan, who has opened his flagship restaurant...

Polo comes to the city.(Brief article)
October 15, 2007... [ILLUSTRATION OMITTED] Want to feel the prestige and glamour of the modern game of polo this summer? Julia Roberts had a go in 'Pretty Woman' and it worked like a charm--along with Opera, but that's a story to pen another day! Raise your...

Trends.(Fashion, Lifestyle and Entertainment)
October 15, 2007... [ILLUSTRATIONS OMITTED] Jason Grech (1) couture range is adored by women who want to feel sensual in exquisite European, limited edition designs and fabrics. Every woman loves a little indulgence (guys, I'm counting on you to enhance the...

Vogue trader.(Fashion, Lifestyle and Entertainment)
October 15, 2007... Enhance your image (or that of your desk at least)! Guaranteed to get your PA to bring you a fresh cuppa every morning, Kikki-k, the multi-award winning business and unique concept store specializing in stationery, has built a reputation for...

Master stroke.(Fashion, Lifestyle and Entertainment)
October 15, 2007... From the futuristic looks of 2001: A Space Odyssey, the softness and drama in the film Girl with a Pearl Earring and the sophisticated romance and glamour in the 1956 movie High Society starring Grace Kelly. Jeweller to the stars, Jan Logan...

Bet stars.(competitions of horse racing)(Brief article)
October 15, 2007... Race goers are showing their appetite for top-notch racing hasn't waned with early ticket sales and dining reservations flooding in for the Caulfield Spring Racing Carnival set for October 13-20. Punters won't be disappointed with Australia's...

An evening with Burt Bacharach and his band with Symphony Orchestra.(Brief article)
October 15, 2007... [ILLUSTRATION OMITTED] Sing along to What's New Pussycat, What the World Needs Now and a super medley performed by the maestro himself. Six decades into one of songwriting's most successful and honoured careers--marked by 48 Top Ten hits,...

Coffee lovers rejoice.(Fashion, Lifestyle and Entertainment)
October 15, 2007... Java fans, your adventure is about to begin with the latest release of the up to date Sydney Coffee Guide and inaugural debut of The Coffee Guide Melbourne 2008 (RRP $16.95) from www.thecoffeeguide.com. all, all major retailers, bookstores and...

At the Asia Society AustralAsia Centre's luncheon in Sydney's Sofitel Wentworth Hotel, while bankers and business types mingled in the foyer, two huge security men with earpieces surveyed the crowd.(BEHIND THE SCREENS)
October 15, 2007... At the Asia Society AustralAsia Centre's luncheon in Sydney's Sofitel Wentworth Hotel, while bankers and business types mingled in the foyer, two huge security men with earpieces surveyed the crowd. Like something out of a 'Bourne' movie, all...

At the same luncheon, Warwick Smith fielded questions from the crowd for Stevens to answer, and he provided warning to the journalists present that they would get their chance after the priority guests.
October 15, 2007... At the same luncheon, Warwick Smith fielded questions from the crowd for Stevens to answer, and he provided warning to the journalists present that they would get their chance after the priority guests. However, once the last question from a...

The Federal Treasurer appears to have puppy dogs to deal with, unlike his colleague Helen Coonan.(BEHIND THE SCREENS)
October 15, 2007... The Federal Treasurer appears to have puppy dogs to deal with, unlike his colleague Helen Coonan. At the 7th Annual Media, Entertainment and Telecommunications Awards, Telstra had no inhibitions in publicly laying into the Minister, mercilessly...

In 2006, when Australian Banking & Finance magazine compiled our list of Australia's Top 50 insurance executives ahead of our annual Insurance Awards, Allianz chief executive Terry Towell was one of the few executives reluctant to provide profile information.(BEHIND THE SCREENS)(Awards list)
October 15, 2007... In 2006, when Australian Banking & Finance magazine compiled our list of Australia's Top 50 insurance executives ahead of our annual Insurance Awards, Allianz chief executive Terry Towell was one of the few executives reluctant to provide...

Retail banking competition white-hot: several of Australia's most senior bankers have argued that competition in retail financial services is now the fiercest it has ever been--and it is unlikely to get any easier.
October 30, 2007... [ILLUSTRATION OMITTED] Westpac's head of consumer financial services, Mike Pratt, believes the landscape in the Australian retail banking market has fundamentally changed. Speaking at Australian Banking & Finance magazine's recent...

Mortgage predators still lurking; predators have taken advantage of the lack of uniform rules in the mortgage broking sector for too long, says Aussie's James Symond, while calling on the government to fast-track industry regulation.(SPECIAL REPORT: MORTGAGE REGULATION)
October 30, 2007... Aussie managing director James Symond has a lot to say about the current state of the Australian mortgage broking industry. Speaking exclusively to Australian Banking & Finance magazine, Symond said that in the current volatile climate...

From tellers to sellers: with BankWest calling its branches 'retail stores', everyone agrees that Australian bank branches are starting to look very different.(SPECIAL FEATURE: BRANCH BANKING)
October 30, 2007... It may be bard to believe, but the usually mundane trip to the local bank branch is about to evolve into an 'interesting' experience, according to NAB's retail banking executive general manager Andrew Thorburn. "I think branches will be a...

Australia's top banking analysts.(SPECIAL FEATURE: AUSTRALIA'S TOP BANKING ANALYSTS)
October 30, 2007... Australian banking analysts' have enormous power and persuasive ability. They decide what stocks should be bought, sold or held. They are the critics of bank performance which bankers have to win over. We have asked our top banking...

Optimising the branch to deliver better service and increased sales.
October 30, 2007... The bank branch is a strange dichotomy. On the one hand, it is where over 70 per cent of all bank products are sold, but on the other hand--and let's be honest--it is a spectacularly ineffective environment in which to nurture meaningful...

Banks face small business woes.(NEWS)
October 30, 2007... Small business customers have a dramatically low sentiment towards their banks, as shown in East & Partners' monthly report, the Business Banking Sentiment Index. While overall, the Business Banking Sentiment Score fell from 41.4 in August...

Westpac announces BT team.(NEWS)
October 30, 2007... Westpac has announced the leadership team for the proposed initial public offering of BT Investment Management. Westpac has said that the float is on track and, subject to market conditions and regulatory approvals, was expected this year....

Retail banking--alive and thriving.(RETAIL FINANCIAL SERVICES LUNCHEON--PICTORIAL)
October 30, 2007... Five of Australia's top retail bankers took to the stage and provided lunch-goers with an animated debate about the current state of Australian retail banking at the Australian Banking & Finance magazine/QAS Retail Financial Services Panel...

Behind the screens.(NEWS)
October 30, 2007... [ILLUSTRATION OMITTED] A lively discussion ensued at Australian Banking & Finance magazine's recent Retail Financial Services panel discussion. Westpac's consumer financial services boss Mike Pratt, NAB's retail banking chief Andrew...

Keeping up with the criminal Joneses.(influence of security measures on growth of financial services)
October 30, 2007... New developments and innovations in technology have undoubtedly helped our financial institutions to enhance shareholder value, through launching new products and improving channels to market. However, more elaborate technology is a...