Citi s Australia unit draws interest from major local banks americanbanker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from americanbanker.com Daily Mail and Mail on Sunday newspapers.
AMP, Magellan, the big four banks and IOOF are among 22 ASX-listed financial firms that have scored poorly on a new human rights benchmark. The finding has come from research by the University of
Westpac Banking Corporation
The Report authors, University of Sydney Law School researchers, rated companies’ performance in the above categories in Financial Year 2019 across five areas: retail; commercial lending investment and services; employees; suppliers and supply chain; and society.
The researchers, Professor David Kinley and Dr Kym Sheehan, found that all companies were deficient in these areas. “There are no winners or losers in this research: all of the companies can make considerable improvements,” said Professor Kinley, an internationally renowned human rights lawyer.
For example, while many have human rights policies and some have relevant due diligence procedures, none mandate that their board or key committees consider human rights, as envisaged in the UN’s Guiding Principles on Business and Human Rights.
Mortgage Business
Suncorp sells wealth arm for $45 million By Annie Kane 29 April 2021
The financial services group has announced that it is selling its wealth business for $45 million as it moves to simplify its offering.
Suncorp has confirmed that it has entered into an agreement for the sale of its Australian wealth business, Suncorp Portfolio Services Ltd (SPSL), to LGIAsuper.
The agreement, which is dependent on regulatory approvals, is for a total consideration of $45 million (subject to standard completion adjustments). This includes a fixed amount of $26.6 million, plus regulatory capital.
Suncorp has said that it will enter into an agreement with LGIAsuper to distribute Suncorp superannuation products to Suncorp customers for 18 months after completion of the sale.
Suncorp finalises wealth exit with sale to LGIA Super professionalplanner.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from professionalplanner.com.au Daily Mail and Mail on Sunday newspapers.