Narev defends Deloitte’s CommInsure process
Commonwealth Bank chief executive, Ian Narev, has defended the independence and validity of the Deloitte Report into CommInsure’s claims handling procedures.
Appearing before the House of Representatives Standing Committee on Economics review of the four major banks, Narev acknowledged, however, that Deloitte represented a major service provider to the Commonwealth Bank.
He said he was satisfied with the independence of the Deloitte review because of Deloitte’s standing in the market.
Narev said Deloitte’s reputation for independence was on the line and noted that the process had not been questioned by the regulator, the Australian Prudential Regulation Authority (APRA).
Recommended for you
Single adviser-led firms continue to expand their footprint in the Australian advice ecosystem, Adviser Ratings research shows, as market conditions prove favourable for boutique practices.
With HNW investors representing the largest market for alternative assets, Praemium and CoreData research underscores why this presents a compelling opportunity for advisers.
Having completed the successful integration of Diverger, Count has upgraded its forecast for expected synergy benefits achieved by the acquisition by a third.
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.
