ARTICLES RELATING TO FINANCIAL SERVICES

Nedbank's Brian Kennedy seeks new role after retirement - maybe even at a parastatal

2020-01-16 12:41

Kennedy is ready to take up a new challenge when he retires as head of corporate and investment banking - perhaps even at one of the ailing state-owned companies.

Watchdog provisionally withdraws investment firm's license after low payout claims

2019-12-18 14:20

The Financial Sector Conduct Authority has provisionally withdrawn the licence of a Pietermaritzburg-based investment company, Exclusive Life Financial Services.

Absa appoints Cheryl Buss to head up international unit

2019-12-11 18:38

Absa has put forward one of its long-standing female executives, Cheryl Buss, to lead its recently-established international unit as it expands its global footprint beyond the UK.

Business booming for Sanlam despite limping economy

2019-12-05 05:00

Sanlam said the relationship it forged with Capitec in May 2018 continues to exceed its expectations, selling roughly 100 000 policies a month.

S&P lowers outlook on SA banks

2019-11-27 19:49

The outlook of S&P on South African banks - including the government-owned Development Bank of South Africa - is now negative, in line with the rating agency's downgrade of its outlook on the SA sovereign.

Macquarie intends to exit its cash equities business in SA

2019-11-26 13:19

Australian multinational financial services group Macquarie intends to exit its cash equities business in SA.

Investec Asset Management to rebrand as Ninety One

2019-11-19 13:10

The rebranding and renaming will be rolled out following the completion of its demerger from the Investec Group.

Alexander Forbes reaches settlement with ex-CEO Andrew Darfoor

2019-10-25 14:51

Alexander Forbes and axed group executive Andrew Darfoor have reached a settlement, the financial services firm has confirmed.

Who profits from unpaid pensions, asks new report probing wrongfully cancelled funds

2019-10-23 18:15

The assets of cancelled and dormant funds were often moved into unclaimed benefits funds held by the fund administrator. Since 2008, the assets of these UBFs have increased from R450m to over R8bn, says a new report.

Ex-Sanlam exec appointed CIO at Ashburton Investments

2019-10-11 15:00

Patrice Rassou, former head of equities at Sanlam Investment Managers, has been appointed Chief Investment Officer at Asburton Investments, the asset management arm of FirstRand.

 

Reserve Bank fines Standard Bank R30m, imposes penalties on 4 other banks

2019-12-20 18:03

The South African Reserve Bank has imposed administrative sanctions on five major banks due to weaknesses in the banks’ money laundering control measures. This didn't mean they had facilitated transactions involving money laundering, the SARB added.

Tymebank to roll out unsecured lending in 2020

2019-12-15 11:10

TymeBank says it's ready to start rolling out unsecured lending from February next year.

TymeBank's plans its next shakeup: triple its size in a year

2019-12-11 13:16

SA’s fastest growing digital bank, TymeBank, has attracted mostly low-income earners, many of whom don’t use smartphones for banking, and says it will be switching gears in a bid to triple its size by the end of 2020.

Finance sector regresses on black ownership and management control - reports

2019-11-29 05:00

The financial sector is falling behind on its transformation targets, reports show.

Customers 'show trust', says African Bank, as profits rise again

2019-11-26 21:30

African Bank Holdings saw its profits after tax jump 13% to R1.15bn as it continued to focus on building trust and diversifying offerings.

Africa’s biggest bank is in play. Does anyone want it?

2019-11-21 20:33

FirstRand, Africa’s biggest bank by market value, just became a possible takeover target - at a time when potential buyers are scarce.

Mazars launches financial services entity

2019-10-25 14:56

Global audit and advisory firm, Mazars has launched a practice to offer skills and consulting services to businesses in the financial sector.

Scam alert: Coin-it associates may be lawbreakers, warns financial regulator

2019-10-24 17:52

Financial regulator the Financial Sector Conduct Authority has warned the public not to enter into any agreements with unauthorised entities associated with Coin-it Trading.

US Bank to cut thousands of branch workers in digital push

2019-10-22 21:39

US Bancorp is cutting thousands of branch workers as it works to adjust to changing customer preferences, according to a person briefed on the decision.

Absa plans China office in Asia investment banking expansion

2019-10-11 11:17

Absa’s corporate and investment banking unit plans to open an office in China as part of an expansion that will also target other parts of Asia and the Middle East.

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