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
Australia’s largest licensee has seen the biggest number of adviser losses over the past week, while the expected wave of new entrants has boosted overall adviser numbers.
Iress has increased its forecast adjusted EBITDA by $5 million for the 2023/24 financial year in light of the sale of its platform business to Praemium and hinted at a return to dividend payments.
With just 30 per cent of Australians knowing their superannuation balance to the nearest $1,000, Findex has emphasised the role of financial advice in addressing the critical super knowledge gap.
New Insignia Financial CEO Scott Hartley has detailed the impact of the Godfrey Pembroke exit and the progress in resetting its financial advice model on its latest quarterly results.