ANZ exec departs
The ANZ Bank executive responsible for overseeing securities lending to failed stockbroking firm Opes Prime has resigned, but has agreed to co-operate with the bank’s ongoing investigation into employee involvement in the Opes Prime debacle.
Chris Cooper, who was the head of ANZ’s working capital division, has left the company citing personal and family reasons.
The head of corporate banking, Vishnu Shahney, will assume Cooper’s responsibilities until a replacement is found.
An ANZ spokeswoman confirmed that the bank’s investigation into whether employees breeched company policies or acted illegally in relation to Opes Prime is “progressing, although there’s still a fair bit to do”.
She said the bank is unsure how long the investigation will take.
Recommended for you
Insignia Financial is targeting its salaried financial advisers increase their revenue per adviser by 62.5 per cent over the next five years.
AWAG and Teaminvest Private Group have teamed up to offer a succession lending fund to help advice principals navigate succession planning and enjoy their retirement.
LGT Crestone chief executive Michael Chisholm believes the firm was chosen to acquire Commonwealth Bank’s personal advice arm due to its strong private market capability.
Advisers will now be able to tap into global markets on the platform through international signature managed accounts from global managers like T. Rowe Price and Lazard.
