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ACCC clears Bank of Queensland deal with ME
Feb 22, 2021 â 12.00am
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Bank of Queenslandâs acquisition of ME and its billion-dollar capital raising are expected to be announced as soon as Monday morning, after the Australian Competition and Consumer Commission gave the union of Australiaâs ninth and 12th largest lenders its blessing.
The tie-up will give the new entity a degree of scale in the fight against the big four banks, which have further entrenched their position after the coronavirus crisis, as borrowers take advantage of the lowest fixed rates on record, backed by cheap money from the Reserve Bank.
ME makes Crane’s role permanent
ME makes Crane’s role permanent
18 December 2020 6:14AM
ME Bank’s acting chief executive Adam Crane has been appointed to the role on a full-time basis.
Crane was the bank’s chief financial officer when, in July, he stepped up to the acting CEO role following the departure of long-serving CEO Jamie McPhee.
McPhee left in the wake of a backlash over poorly handled changes to the redraw limits of some customers. The bank later agreed to restore the redraw limits of affected customers.
ME chair James Evans said in a statement: “When Adam joined ME Bank as CFO in August last year, the CEO at the time and the board had succession planning in mind. Adam’s depth of experience across finance, strategy and digital transformation made him the standout candidate at the time.”
“When Adam joined ME Bank as chief financial officer in August, the chief executive at the time and the board had succession planning in mind, as it always does with senior executive appointments. Adam’s depth of experience across finance, strategy and digital transformation and his evident leadership skills made him the standout candidate at the time.
“He again has proven to be the standout candidate for the role.”
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A topsy-turvy year
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Anyone who was hoping for a quiet, uneventful 2020 following the aftermath of the release of the banking royal commission final report would have been disappointed. The year has thrown everything in its power at brokers, the financial services industry and Australia as a whole, as
Malavika Santhebennur recaps.
The coronavirus pandemic, lockdowns, economic shutdown, government survival and stimulus packages, a recession and a mammoth budget deficit all impacted us this year. Amid all this, the government made significant announcements around lending policies and regulations for mortgage brokers. Here, we (attempt to!) summarise the year that was 2020!