The churn in the highest ranks at National Australia Bank may abate, with the selection of three new faces for the bank's management committee. The new CTO and new chief lawyer bring an abundance of recent, relevant experience, while the third new face - a former state premier picked to run NAB's institutional banking - brings colour and controversy along with conjecture they may be a future CEO. Patrick Wright, from Barclaycard, is the big name hire and the most significant of the three executives announced yesterday. read more
Professional services (296 items)
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CommInsure, the insurance arm of Commonwealth Bank, has paid more than A$2.5 million to 17 eligible customers previously declined trauma claims, but the bank's board said it was "satisfied that there is not a culture of avoiding or wilfully denying claims." read more
Overall global fintech investment declined 47 per cent in 2016 despite record venture capital funding of US$13 billion, but Australia bucked the trend. read more
KPMG's analysis of the New Zealand banking sector's 2016 performance shows increased costs and competition dampened profits and created margin squeeze. read more