Briefs: ANZ poaches CBA exec to run commercial division, iSelect shareholders back takeover

Banking Day staff
  • ANZ has hired Commonwealth Bank’s executive general manager of small business banking, Clare Morgan, to head its commercial business. She will lead a business serving sole traders through to “emerging corporates”, as well as private banking. ANZ made Australian commercial a stand-alone division in a restructure in March and it has been looking for someone to head the division since then.
  • iSelect shareholders voted in favour of the takeover of the company by Innovation Holdings Australia Ltd, at a scheme meeting on Friday. IHA owns rival comparison site business Compare the Market and insurer owns Auto & General Insurance Co, which trades as Budget Direct. The ACCC announced earlier this month that it will not oppose the merger. The Federal Court, which is still to approve the scheme, has a hearing scheduled for Wednesday (December 14).