Bank customers’ lack of loyalty as they chase lower deposit and
mortgage interest rates has forced the major banks to establish special
units to protect market share and counter unprecedented levels of
customer turnover, reports The Fin Review. St George has set up
a 40-person strong team to stop customers defecting to competitors and
Westpac says it has more than 120 people employed in its retention
unit, while NAB and Commonwealth said they specifically benchmarking
employees on their ability to retain customers.
The Australian reports that the man at the centre of “threats” that led to
the resignation of Pacific National boss Stephen O’Donnell is being
touted as the man to replace him. Mark Rowsthorn, one of Toll Holdings’ two directors on the joint
venture PN board, would be a good replacement for Mr O’Donnell, who
stands down in two months, Toll managing director Paul Little said
Also in the AFR, Qantas faces a bumpier ride from its pilots in
coming weeks, with expectations that they will reject a crucial
two-year enterprise agreement covering long-haul flights.
Victoria has been in talks with Toyota to have the hybrid car,
the Prius, manufactured at Altona. The move would help guarantee
the future of the motor industry in Victoria, even as oil prices
rise, reports The Age.
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And one of the world’s most flamboyant advertising gurus has
left his job after reportedly telling an audience in Canada that
women made poor executives because motherhood made them “wimp
out,” reports The SMH. Marketing group WPP Group said it had accepted the
resignation of Neil French, a one-time debt collector, trainee
matador and rock band agent who served as the group’s worldwide