ARTICLES RELATING TO FINANCIAL SERVICES

Sanlam announces new CEO among other sweeping leadership changes

2020-03-31 10:31

The decision comes months before current CEO Ian Kirk’s five-year contract was scheduled to end in December.

Absa launches extensive coronavirus payment relief programme

2020-03-29 19:01

Absa announced on Sunday that it is introducing a comprehensive customer, business and corporate relief programme.

Lockdown | Banks to waive ATM penalty fees, offer customers a helping hand

2020-03-26 15:44

Banks have taken a number of steps to soften the blow of lockdown on customers, including waiving Saswitch penalty fees at ATMs and minimising branch closures, the Banking Association of South Africa has said.

Australian bushfires hit earnings of OUTsurance majority shareholder RMI

2020-03-12 18:02

Rand Merchant Holdings, which is a majority stakeholder of OUTSurance reported a 14% decline in headline earnings per share for the six months ended 31 December 2019.

Top, senior bank management still too white and male - report

2020-03-09 21:46

The proportion of black executive directors in South Africa's banking industry improved over the period from 2016 to 2018 but remains below the industry target of 50%.

HSBC seeks revamp with 35 000 staff cuts in CEO’s 'endgame'

2020-02-18 11:00

HSBC Holdings is set to slash about 35 000 of its workforce, and is taking $7.3bn of charges in its most dramatic overhaul under chairperson Mark Tucker.

Motsepe's TymeBank partners with Zion Christian Church

2020-02-02 12:35

African Rainbow Capital, founded by billionaire SA businessman Patrice Motsepe, announced that TymeBank, in which ARC has a majority shareholding, has entered into a partnership with the Zion Christian Church.

Old Mutual's Futuregrowth to boost its black ownership

2020-01-26 14:21

Futuregrowth Asset Management, the Old Mutual fixed-income unit, said it plans to boost the proportion of the R185bn fund manager owned by black South Africans.

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.

 

Sanlam warns of Covid-19 impact on growth, but says it has a R760m pandemic reserve

2020-03-30 13:14

Both Sanlam and Santam have warned that the Covid-19 outbreak will impact growth prospects. However, both insurers say they are well capitalised to weather the storm.

Unions, small businesses 'underwhelmed' by banks' response to virus

2020-03-27 13:28

South African banks are being criticised by labour unions and small business owners for not doing enough to help struggling customers as the coronavirus lockdown looms.

SA Reserve Bank to buy govt bonds to inject liquidity into market amid Covid-19 crisis

2020-03-25 12:05

This follows an initial raft of interventions announced last week to provide lenders with cheaper access to funding.

Historic day as Ninety One floats on JSE & London stock exchanges

2020-03-18 09:35

After almost three decades as part of a diversified financial services business, Investec Asset Management last week separated from its parent Investec and on Monday listed on the JSE and London Stock Exchanges as Ninety One.

Regulator issues warning about funeral parlour, burial society

2020-03-11 19:42

The Financial Sector Conduct Authority warns the public not to conduct financial services business with Masibekele Funeral Parlour and MISI Burial Society.

WATCH: Ex-Barclays bankers cleared over Qatar fees in blow to UK fraud office

2020-03-07 13:26

Three former Barclays executives were acquitted in London of charges they helped funnel £322m in secret fees to Qatar during the credit crisis, in return for rescue funding.

Investec ups climate investment, clarity as pressure grows

2020-02-13 08:55

Investec is increasing its focus on environmental, social and governance issues to bolster its profit and address concerns raised by investors over climate change.

Change in responsibilities of Discovery director Hylton Kallner

2020-01-29 21:12

Hylton Kallner, current CEO of Discovery Life, will assume the role of CEO of Discovery's South African operations.

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.

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