ANZ exec departs
The ANZ Bank executive responsible for overseeing securities lending to failed stockbroking firm Opes Prime has resigned, but has agreed to co-operate with the bank’s ongoing investigation into employee involvement in the Opes Prime debacle.
Chris Cooper, who was the head of ANZ’s working capital division, has left the company citing personal and family reasons.
The head of corporate banking, Vishnu Shahney, will assume Cooper’s responsibilities until a replacement is found.
An ANZ spokeswoman confirmed that the bank’s investigation into whether employees breeched company policies or acted illegally in relation to Opes Prime is “progressing, although there’s still a fair bit to do”.
She said the bank is unsure how long the investigation will take.
Recommended for you
A strong demand for core fixed income solutions has seen the Betashares Australian Composite Bond ETF surpass $1 billion in funds under management, driven by both advisers and investors.
As the end of the year approaches, two listed advice licensees have seen significant year-on-year improvement in their share price with only one firm reporting a loss since the start of 2025.
Having departed Magellan after more than 18 years, its former head of investment Gerald Stack has been appointed as chief executive of MFF Group.
With scalability becoming increasingly important for advice firms, a specialist consultant says organisational structure and strategic planning can be the biggest hurdles for those chasing growth.
