Annabelle Dickson
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People: board renewal at IOOF

Former ING Direct chief executive Vaughn Richtor has been appointed as a director of MyState Ltd. Richtor has extensive experience in banking, and following his role at ING Direct was chief executive of ING Vysya Bank and head of retail…

People: BT GM to head Xplore Wealth

Xplore Wealth has appointed general manager of BT Financial Advice Michael Wright as its chief executive. Wright has over 21 years’ experience in banking and advice and was previously general manager of Westpac Financial Planning in Queensland, general manager of…

AFG to become Australia’s biggest mortgage aggregator

Australian Finance Group (AFG) has announced a $120 million takeover of rival mortgage aggregator Connective Group. The acquisition will make AFG a mortgage distribution superpower with a total of 6575 brokers and a staggering $76 billion of the $198 billion…

Household financial comfort declines

Australian household financial comfort has fallen due to the weakening labour market and the halt in income growth, according to ME Bank’s latest six-monthly Household Financial Comfort Index. Household comfort amongst employment significantly declined in the past six months, with…

People: CVC appoints new CEO

Private equity firm CVC has appointed Mark Avery as chief executive. He joined the company in 2010 as a property executive and prior to that was an investment manager at Lyons Capital and business development manager at Industrial Commercial Property…

Putting Members’ Interest First Bill is back

The Senate Economics Legislation Committee has made two recommendations to the Government’s reinstated legislation that requires insurance be provided on an opt-in basis for low balance super fund members and to new members under the age of 25. The Treasury…

People: KPMG HR boss takes on the NAB challenge

Former KPMG partner, Susan Ferrier joins National Australia Bank as chief people officer. She previously held a number of executive human resources positions at KPMG before taking on the role of global head of people. Prior to this she was…

Investing apps offer more options for micro investors

Micro-investing is the new game for digital investment companies. Raiz Invest has updated its app with a rewards program that tops up users’ portfolio, while Commonwealth Bank’s CommSec has launched Pocket app, which facilitates very low minimum investments. In a…

Fewer IPOs give better results

It was a sluggish start to the year for initial public offerings (IPOs), with a fall in the number of new listings. But share price performance was better than previous years. Only 23 new listings made it onto the ASX…

People: NAB waits on McEwan’s release from RBS

Outgoing chief executive of Royal Bank of Scotland (RBS), Ross McEwan, has been appointed as chief executive of National Australia Bank. McEwan announced his resignation from RBS in April and will assume his role no later than April 2020. Prior…