Street Talk

Suncorp drafts in UBS bankers for spin-off deliberations

Sarah Thompson and Anthony Macdonald

Updated May 6, 2019 – 10.18pm, first published at 9.33pm

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Suncorp Group's board has called in the investment bankers to help consider a radical overhaul of the $17.8 billion financial services company.

Street Talk understands Suncorp is working with a team of UBS bankers to mull a banking unit spin-off, which would leave the Brisbane-based company as a pure play insurer and create a separate bank estimated to be worth about $4 billion.

Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.

Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.