Work & career (75 items)

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Macquarie corresponds returns with reputation

When fronting investment types at the end of last week, Macquarie Group's CEO Nicholas Moore and CFO Patrick Upfold, conformists both, didn't tell much of any story on a 2017 full year result that fitted with the perspectives of many in their audience. So Banking Day's having a crack at combining the appreciation and accolades that the annual report (Moore's ninth) warrants.As Moore enters his tenth year as CEO, he is simply overpaid from any populist standpoint. His package last year was A$18.7 million. read more

Banks get three years to reset sales incentives

Australia's banking sector needs "a sharp break with the past", wrote Stephen Sedgwick in his review of the industry's pay practices. But sharp does not mean short, with Sedgwick suggesting a three-year time frame for reform and a follow-up review in 2020. read more

Foreign hires mostly safe in finance

HR managers at banks won't be too fussed - though their employers' credit analysts may well be – with the purged list of "eligible skilled occupations" that can be covered by a "temporary skill shortage" visa, as announced yesterday by the Australian government as it scrapped the current 457 visa scheme.Investment bankers, investment managers and investment advisers are safe, still, to hire from abroad. Bank branch managers, on the other hand, are another matter; with no more foreign imports welcome. read more

Sedgwick red lights broker commissions

A ban on accelerator reward payments and a shift to a fee-for-service payment model, funded by the banks, are highlights of Stephen Sedgwick's year-long review of retail banking remuneration. A long preview today in the AFR's Chanticleer column has Sedgwick's final recommendations. read more

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