News

News

Nikko AM Poaches NAB Asset Management Exec

Posted by Anton Murray Consulting on . Posted in Funds Management MC

Tim Stewart

Sam Hallinan will take up the managing director role at Nikko AM Australia on 1 April 2015, replacing outgoing boss Mike Davis.

As well as heading up NAB AM’s investment management division, Mr Hallinan was also the managing director of NAB AM-affiliated boutique fund manager Antares Capital Partners.

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Macquarie Urged to Update ‘Antiquated’ Bonus System

Posted by Anton Murray Consulting on . Posted in Investment Banking News

Michael Bennett

MACQUARIE Group chairman Kevin McCann has been urged to undertake a major overhaul of the company’s long-time compensation structure.

The call came as Mr McCann was criticised for not keeping up with the company’s dramatic transformation from a small ­investment bank into a global ­financial services player.

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Ross McEwan Hunts for Local Buyer as Key to RBS Exit

Posted by Anton Murray Consulting on . Posted in Investment Banking News

Michael Bennett

ROYAL Bank of Scotland is on the hunt for a buyer of its Australian corporate and institutional banking (CIB) operations, as CEO Ross McEwan seeks to ­simplify the government-backed lender after seven straight years of annual losses.

Following RBS’s £3.5 billion ($6.94bn) loss announced late last week, a spokesman confirmed that a global restructure to create a “safer and more sustainable” bank focused on Britain and western Europe would result in CIB operations in Australia being “sold or wound down”.

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RBS Said to Plan Cutting Footprint to 13 Nations in Revamp

Posted by Anton Murray Consulting on . Posted in Investment Banking News

Brian Fowler and Richard Partington

Royal Bank of Scotland Group Plc will outline plans to reduce the number of countries in which it operates by two-thirds to 13, a person with knowledge of the matter said.

Executives in markets affected will brief regulators and clients after the board meets Wednesday to approve the plan, the person said, asking not to be named before an announcement to staff. As part of the restructuring, code-named Project Brown, Edinburgh-based RBS intends to sell its U.S. loan commitments and related derivatives to Mizuho Financial Group Inc., the person said without elaborating.

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