Finance Sector Union

Financial planning

AMP proposes further cuts amid ongoing simplification

Almost 30 staff at AMP could be affected by changes to its marketing and communications team, Money Management understands, as it makes two senior hires. ...

Financial planning

AMP restructures 4 departments amid cost simplification program

Having divested its advice business in August, AMP is undergoing restructuring in at least four other departments amid a cost simplification program....

Financial planning

Insignia staff at risk of slashed redundancy provisions

Insignia Financial has proposed slashing staff redundancy pay arrangements by 58 weeks, potentially making it one of the lowest in the industry. ...

People & Products

RBA pay causes staff dismay

Staff at the RBA are in dispute with the central bank over working conditions and pay rises while its monetary policy board continues to hike interest rates. ...

Policy & Regulation

CBA hits back at FSU criticism

The big four bank has disputed claims from the Finance Sector Union that it is asking members to vote for “wage theft”....

Financial planning

Lack of will for financial services to close gender gap

There is a lack of willingness on the part of firms in the financial services sector to close the gender pay gap, despite it surpassing 20%. ...

Financial planning

CBA to repay employees $53m in backpay

In 2017 the bank had underpaid staff in pay and entitlements in relation to super due to ‘excessively complex individual employment arrangements’, according to the Financ...

Financial planning

Banks’ wealth exits haven't ended product promoting

Some of the major banks may have exited their wealth businesses but that has just meant that bank staff are now promoting the financial services products of the companies...

Financial planning

FSU calls for professionalisation for all

The Finance Sector Union has called for the current move to professionalisation to be extended beyond just planners, but has warned that there are issues with an industry...

Policy & Regulation

Union blasts NAB sales culture

The Finance Sector Union has blasted evidence given by National Australia Bank executive, Anthony Waldron, to the Royal Commission that sales targets were to blame for ba...

Financial planning

FSU warns NAB that 6,000 job axings fail community expectations

The Finance Sector Union of Australia has attacked the National Australia Bank for failing to retrain current staff, as the bank’s program to axe 6,000 jobs begins....

Policy & Regulation

FSU welcomes Hayne’s Royal Commission gag ban

The Finance Sector Union has welcomed Kenneth Hayne’s declaration that non-disclosure and employment agreements will not gag employees before the Royal Commission, saying...

Policy & Regulation

Call to let bank employees talk to Royal Commission

The Finance Sector Union has called on banks to allow their employees to communicate with the Royal Commission....

Policy & Regulation

BEAR may not kill ‘whatever it takes’ culture

The ‘whatever it takes’ culture within many banks may not be easily killed off by the Bank Executive Accountability Regime, according to the Finance Sector Union....