Powered by MOMENTUM MEDIA
moneymanagement logo
 
 

You win some, you lose some

Outsider/

22 September 2017
| By Outsider |
image
image image
expand image

Politics, even local Government politics, can be a tough game and so Outsider wishes to give a big shout out to Commonwealth Bank whistle-blower, Jeff Morris, who proved to be a one-term wonder on the North Sydney Council.

Jeff served on the North Sydney council during a time which the local newspapers have described as “fractious” noting that it was “one of the most complained about councils in the state and was threatened with suspension”.

It must have been interesting times. Outsider recalls reading reports about Jeff having some issues with the North Sydney mayor, Jilly Gibson, with Gibson at one stage reported as seeking to take out an apprehended violence order.

All of that is now political history, with Gibson being returned as Mayor and the election of five new councillors expected to lead to a lower level of “fractiousness”.

On the upside for Jeff, last week’s radical announcements by the Commonwealth Bank including the exit of wealth boss, Annabel Spring, must give him comfort that he has in some small way been an instrument for change.

It seems that CommBank will be moving beyond the middle of 2018 with a new chief executive and a new head of wealth, minus CommInsure and with CFS Global Asset Management up for grabs.

In Outsider’s experience that is called a “major public relations circuit breaker” and you can bet the new CEO will be aiming to keep the big banking group off the front pages unless it is reporting another record profit.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...

3 weeks 2 days ago

It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...

4 weeks 2 days ago

So we are now underwriting criminal scams?...

7 months ago

After last month’s surprise hold, the Reserve Bank of Australia has announced its latest interest rate decision....

3 weeks 4 days ago

WT Financial’s Keith Cullen is eager for its Hubco initiative to see advice firms under its licence trade at multiples which are catching up to those UK and US financial ...

4 weeks 1 day ago

While the profession continues to see consolidation at the top, Adviser Ratings has compared the business models of Insignia and Entireti and how they are shaping the pro...

1 week 3 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND