Having had a week to think about ANZ’s bold move to distance itself from future Reserve Bank rate decisions, two of its peers have passed up the opportunity provided by their AGMs this week to announce they would emulate it.
Gail Kelly
Banks make huge savings thanks to cheaper local deposits
With the surge in domestic savings (running at 10%) and low demand for loans, banks have been able to build substantial deposit cushions, allowing further cuts in offshore borrowing.
BRW’s Young Rich list: she has to rely on the old man’s money
Yesterday BRW magazine released its annual Young Rich list of Australia’s most successful entrepreneurs aged under 40. This list of 100 contains only eight women.
Kelly: one of the most powerful women in the country
From teacher to bank teller to Big Four CEO. Not a typical CV sure, but there’s not much that’s standard about Gail Kelly, writes Tom Cowie, with Kelly nabbing 5th spot on the Money Movers power list.
Bartholomeusz: tougher times for a wary Westpac
While Westpac’s third quarter numbers were slightly disfigured by an unexpected blip in its impairment charges, there was nothing in the update that challenged the view that conditions for the major banks are getting tougher.
Crikey Says: Guess who’s coming to dinner?
Prime Minister Gillard had dinner with some business people last night. Gillard wanted to sit opposite “select business people” over the dining room table at Kirribilli House to canvass their views on her carbon price plan.
Westpac stumbles, Kelly’s halo dims
Has the glow gone from the halo of the sainted Gail Kelly of Westpac, who according to some claims, is one of the most powerful women in the world?
Westpac stays ‘mum’ on emergency $1b loan from US Fed
Sometimes important corporate news is ignored. Shareholders miss it, companies hide it and governments fail to publicise it.
Schwab: Gottliebsen got it wrong on bank executives
Perhaps Business Spectator’s legendary columnist Robert Gottliebsen isn’t reading Steve Keen’s columns (or these ones) particularly closely. If he did, he probably wouldn’t be blaming the bankers’ communication skills for their current public relations foibles.
Gottliebsen: bankers must leave their bunkers
The boards of the four major Australian banks have appointed chief executives with a communication skills gap, writes Robert Gottliebsen from Business Spectator.
Short memories, fat wallets for Macquarie high flyers
It appears that Macquarie Bank directors have short memories — barely a year since the credit crunch caused turmoil in financial markets, money again is being spread around the executive suite at Martin Place with gay abandon.
Westpac gets ready to gouge Australia
With so many Westpac stories in the media this morning, you’d be mistaken for thinking there was some sort of campaign under way.
Citibank’s “tough patooties” customer service charter
In an uncharacteristic display of appreciation, Citibank boss Vikram Pandit thanked US taxpayers for bailing out the world’s once biggest financial institution — then slapped them with a new credit card fee.
Crikey’s Business Awards of the Year: people
While Australian stock markets rebounded with vigor, and property prices continued to bubble away, Crikey celebrates those who made it all possible, and made 2009 truly a year to remember.
Political snippets: Copenhagen confusing, the Gail Kelly admiration society, the Governator of Palin
The reports from Copenhagen are very confusing, with still no news of what the final outcome will be. Is this Chinese tactic of testing the nerve of those they negotiate with being repeated?
Bankers’ value to society? You’ve gotta be kidding
Investment bankers can aid economy growth, but it’s difficult to determine any real value that the average banker provides to society. Especially in comparison to their rampant pay packets.
Westpac’s head banana: not fair for home loan borrowers to pay lower rates
When bankers grab hold to the national good to help justify a bad decision, you know — like politicians grabbing onto patriotism — that you are being screwed.
Political snippets: Time for the Libs to exploit the government on health
Are the Liberals finally basing their attacks on the Rudd Government around health policy after months of missing out on the opportunity? Even just a look at the last week of reporting shows rich pickings.
Penberthy: Westpac slipped on a banana peel and took us for a ride
All the great hopes of a female CEO that wasn’t the fat banker have been dashed by a banana. We need to remember that just because Gail Kelly is female, doesn’t mean she isn’t a Scrooge to customers, writes David Penberthy.
Westpac’s banana republic fails to bear fruit
Westpac’s attempt to quell customer concern over last week’s double rate rise have failed to bear fruit with a bitter online backlash greeting the release of a video likening home loans to banana smoothies.
Crikey Clarifier: The difference between home loans and banana smoothies
So according to Westpac, mortgages and banana smoothies are very similar. But the money that banks needed to buy started to cost them a lot more, just like bananas for smoothies. You still following?
Tips and rumours: Tips and rumours: Gail Kelly doesn’t like women in the exec ranks?
Is Gail Kelly actually not a fan of promoting women in the exec ranks at Westpac? Is it a repeat of her time at St George? Plus, they are a cruel bunch down at the WA Libs.
Westpac’s and Commonwealth’s attitudes ‘disgraceful’
Our biggest banks’ bleating about interest rates often ignores the real story. How quick Westpac and the Commonwealth are to forget the government’s federal guarantees.
Political snippets: A return to Kevin07?
Stand by for pointless aggro, because the sooner we get the next election over, the better. Plus, Westpac boss Gail Kelly surely can’t believe her own press?
Bank exec bonuses helped by Rudd’s rules
Kevin Rudd may publicly deride extreme capitalism — but, fortunately for our bankers, the Federal Government’s policies appear to be aiding and abetting it.
