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Ruth Liew

May 2016

  • Exclusive
"It [dealing with working claims] is my number one priority to fix," Suncorp Group chief executive Michael Cameron said.

Suncorp chief reveals cost-cutting strategy

Slashing duplication costs and clamping down on expensive claims number among Suncorp Group chief executive Michael Cameron's top priorities.

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The Federal Government has thrown its support behind eight out of 12 recommendations by the Senate inquiry, including stricter responsible lending obligations to ensure customers are able to repay their loans.

Stricter rules may be imposed for credit cards

Banks may have to impose more thorough checks on borrowers and tighten their lending criteria under new proposals tabled by a Senate inquiry into credit cards.

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Russell Johnston, the former president of AIG Casualty in the Americas, will take over the reins of QBE's second largest division by revenue on 31 May.

QBE appoints new North America CEO

QBE's North America boss David Duclos is stepping down from the $15 billion insurer and will be replaced by Russell Johnston. 

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The changing of the guard at Cover-More comes as the insurer begins selling travel insurance in the United States, the world's largest travel insurance market.

Cover-More appoints Mike Emmett as new CEO

Former QBE group executive Mike Emmett has been appointed chief executive of Cover-More Group, as Peter Edwards leaves the travel insurer due to family reasons.

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Simon McKeon: "I am disappointed to leave the board following a change in my circumstances."

What a board should do when the chairman suddenly exits without saying why

The AMP board is facing a testing time after the surprise resignation of chairman Simon McKeon.

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April 2016

As part of BTIM's restructure Emilio Gonzalez becomes group ceo and the company is searching for a new Australian boss.

BT Investment Management outlines new executive structure

BT Investment Management has changed its executive structure that gives Emilio Gonzalez a group chief executive title and creates a new position to lead Australia.

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Don Sharp, a finance industry veteran who also co-founded advice group Bridges Financial Services, is looking to secure investors for InPayTech, an overlay services group slated to list on the Australian Securities Exchange later this year.

InPayTech plots capital raise and ASX IPO as real-time payments take off

The former chairman of fund manager Investors Mutual, Don Sharp, is eyeing a $4 million raising and IPO for his latest venture.

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January and February were particularly savage months for the investment market, with the benchmark S&P/ASX200 plummeting as much as 10 per cent during the period to a low of 4765 points.

Perpetual suffers from market volatility

Stressed equities markets have hit Perpetual, causing the wealth-management giant to suffer a $1 billion blow to its assets under management.

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ASX chairman Rick Holliday-Smith said the company's next CEO must "understand the nuances and the relationships with the regulators".

ASX chair Rick Holliday-Smith leans towards local candidates in CEO search

ASX chair Rick Holliday-Smith has embarked on a painstaking process to choose a replacement for Elmer Funke Kupper.

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AIA Group chief executive Mark Tucker says the financial services industry must recognise it hasn't always done things as it should have done.

Fixing trust a priority for financial services: AIA

Broken trust is the biggest issue confronting the financial services industry and should be companies' top priority to resolve, according to the world's third largest life insurer, AIA Group.

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Damien Mu, Australian chief of AIA, said the life insurance giant has seen a 40 per cent improvement in policy retentions since the group rolled out its Vitality program 18 months ago.

AIA policy retention improves as customers get fit

Damien Mu believes he has the answer to Australia's chronic life insurance claims problem: rewarding Australians who choose to get fit.

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Dave Curran, CIO of Westpac, says the bank is still coming to grips with open APIs.

Open software the way of future: Westpac

Open software and sharing of customer data will be natural evolutions in the banking industry, according to Westpac Banking Corp's technology chief.

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Paul McCrory says Facebook wants to help the banks drive more people to use mobile services, rather than having to go to a branch.

Facebook wants to partner with Aussie banks on mobile strategy

Social media behemoth Facebook is looking to partner with Australian banks to explore opportunities in mobile banking.

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Geoff Wilson's WAM Leaders listed investment company is seeking $165 million from investors, although this can be expanded to $330 million if the demand is high

WAM Leaders eye $330 million raising

Wilson Asset Management is looking to raise up to $330 million for its latest listed investment company, WAM Leaders.

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Fifty five per cent of Australians would buy complex life insurance policies online if they needed it.

Life insurance consumers set to bypass advisers for online offerings

More than one out of two Australians would buy life insurance online and bypass traditional sales agents such as financial advisers.

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More Chinese financial services groups are interested in buying stakes in local insurers.

Chinese interest heightens for Australian insurers, says Clyde & Co

Chinese interest in acquiring stakes in Australian insurers has more than tripled since the end of last year, signalling a potential rise in mergers and acquisition activity to come, according to Clyde & Co.

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March 2016

CPA Advice Australia pitched the idea of spreading its tentacles into financial advice and has since been taking expressions of interest on its website.

Advisers reject claims CPA will descend on their turf

Financial planners have rejected the idea that professional accounting body CPA Advice Australia will be able to take on traditional advisory juggernauts without a big dealer group name at its helm.

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The car of the future is well on its way.

Driverless cars to dent insurer profit

Driverless cars could conquer Australian roads and dramatically reduce accident rates, putting pressure on the profit of motor insurers.

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Accounting body CPA Australia accelerates push into financial advice

CPA Australia is gearing up to take on the country's biggest wealth management companies, including AMP and the big banks, as it starts recruiting for its foray into the financial planning market.

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ASIC unveilled a draft regulatory guide on Monday for a growing number of companies offering robo financial advice, based on algorithms and technology.

ASIC eyes robo advice regulation

From testing complex algorithms to mandating responsible managers for companies, ASIC is looking for feedback on proposals to regulate the fast-growing robo-advice sector.

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Original URL: https://www.afr.com/by/ruth-liew-j7gcr