Business

Banks face shareholder battle over BEAR

Banks are wary about a proposal to give the industry regulator greater power to intervene in remuneration.

Banks are on a collision course with some of their key shareholders over Scott Morrison's plan to give the prudential regulator stronger powers to intervene in senior bankers' pay packets.

CBA scandals done? Investors are not convinced

Chief executive Ian Narev, fronting the cameras over the Austrac scandal, will retire before June 30 of next year.

The departure of Commonwealth Bank chief executive Ian Narev has been backed by corporate governance experts, but failed to stave off the political heat on the bank over a money laundering compliance scandal.

Why CBA's Ian Narev had to 'retire'

CBA achieved stunning financial success under Ian Narev.

The big bet doing the rounds is whether Ian Narev will last in the top job at Commonwealth Bank until June 30. The odds are that he – and a number of others – will be gone well before then.

AMP sharpens strategy for struggling life business

AMP on Thursday announced it would complete a reinsurance program for its life insurance business by year-end that would ...

Financial services institutions are lining-up to offload their life insurance businesses, but AMP appears likely to continue with its strategy of managing for "value and capital efficiency" in its struggling life insurance business.

AMP 'open-minded' on life insurance sale

Chief executive Craig Meller said life insurance was a "challenging industry".

Financial services major AMP will complete a reinsurance program by year-end that will release $1 billion in capital, protect it from spikes in claims and reduce earnings volatility.

Commonwealth Bank's Jekyll and Hyde routine

CBA achieved stunning financial success under Ian Narev.

Under normal circumstances Commonwealth Bank boss Ian Narev would be confidently basking in the bank’s glory of a record profit result, but its latest was marred by another scandal.

Grant King on way out as BHP reshuffles its board

Short tenure: Grant King will retire from the BHP board on August 31.

Corporate high-flyer Grant King will leave the board of mining giant BHP at the end of the month, deciding not to stand for election at its annual general meetings this year after his appointment six months ago sparked a backlash from some investors.

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