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BFCSA investigates fraud involving lenders, spruikers and financial planners worldwide.  Full Doc, Low Doc, No Doc loans, Lines of Credit and Buffer loans appear to be normal profit making financial products, however, these loans are set to implode within seven years.  For the past two decades, Ms Brailey, President of BFCSA (Inc), has been a tireless campaigner, championing the cause of older and low income people around the Globe who have fallen victim to banking and finance scams.  She has found that people of all ages are being targeted by Bankers offering faulty lending products. BFCSA warn that anyone who has signed up for one of these financial products, is in grave danger of losing their home.

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BFCSA: Westpac Gail Kelly ready to jump ship? What about ANZ Mike Smith? Movement at Bank Stations

Posted by on in Consumer Protection Ignored
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Well this is no surprise to the victims of Bank Internal Mortgage Fraud and Maladministration in Lending by Major Australian banks.  Will they donate their parting bonuses to BFCSA and the victims of their SERVICE CALCULATOR heist as they run for the EXITS?  

Leaving us on the bucket and mob brigade?   YES BIG clean up long overdue..................  Doing a bit of shredding Gail?  This email address is being protected from spambots. You need JavaScript enabled to view it.

BREAKING: Big bank gets new deputy amid succession rumours

    Australian Broker News  http://www.brokernews.com.au/news/breaking-news/newsletter-185066.aspx
by AB | 07 Mar 2014
 
Westpac has appointed finance head Phil Coffey to the newly-created role of deputy chief executive officer, amid whispers of when an announcement can be expected on the future of CEO Gail Kelly.

Coffey has been the bank's CFO since 2005, with previous roles at the Reserve Bank and Citicorp.

The fact he was promoted by Kelly – who has worked at Westpac for nearly two decades and shows no sign of leaving soon – rather than the board of directors is an indicator she will be at the helm for at least a while longer, AFR predicts.

Instead, Coffey had “itchy feet” and told Kelly he needed a new challenge, AFR reports.

Coffey took a four-month sabbatical last year as part of his long service leave.

During his time away from the bank last year, his position was covered by Peter King, who was also promoted to chief financial officer of Westpac today. 

The new position is said to have been created in response to the waves of change sweeping through banking, including changes in technology and regulation.

Westpac said today that Coffey would work directly with Kelly from next month on ''critical strategic issues,'' including the bank's contribution to the government's financial system inquiry.

Kelly is looking forward to working closely with Mr Coffey, saying he was highly respected and had played a ''critical'' role in building up the bank.

''His expertise in risk, finance, capital markets and regulatory issues will be invaluable in the further development of the group's strategy as we address both the challenges and opportunities facing the industry,'' Kelly said.

''Peter's promotion shows the depth of talent in the group and our ability to recognise and develop our future leaders.”

Some analysts have said the most likely successors to Kelly are the boss of its flagship Australian division Brian Hartzer or institutional boss Rob Whitfield.
 
 
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  • doyla66
    doyla66 Friday, 07 March 2014

    One big enigma indeed re the next move of Mr. Mike Kingfisher Smith! Is he planning to soon retire himself as per a few rumors I have been hearing or is it a big hint of things to come by selling down some of his ill-begotten shares and adding to his own personal property portfolio? Guess he must have a bit of spare time on his hands these days and a few new options have opened up for him having abdicated from the throne in the Australian Bollocks Association and handing reign over to Nurse Ratched a few months ago giving her a few new responsibilities to have to worry about. Most likely feels he is now enTITLEd to do a bit of winding down and it's time to start enjoying a few of his spoils!

  • doyla66
    doyla66 Friday, 07 March 2014

    Don't know where this reporter got his info from but Ms Kelly hasn't been working for Westpac for 2 decades,from memory she has been CEO of CBA,St George and then Westpac,all in the last decade.Just goes to show you can't believe anything these spin doctors put out.

  • doyla66
    doyla66 Saturday, 08 March 2014

    You are so right Honesty - from wikipedia

    Kelly started work at the Nedcor Bank in 1980 as a teller but was fast-tracked into an accelerated training program....... She started an MBA in 1986 ....graduated with distinction in 1987......In 1990, she became head of human resources at Nedcor .....from early 1992 to 1997 she held various other general manager positions at Nedcor, including cards and personal banking.......In June 1997, she flew to Sydney where she held interviews with four of the major banks and was appointed to a senior position at the Commonwealth Bank in July 1997.........

    Career in Australia

    Kelly started work as the General Manager of Strategic Marketing in the Commonwealth Bank in October 1997. By 2002, she was head of the Customer Service Division responsible for running the Commonwealth Bank's extensive branch network........Her performance at the Commonwealth Bank led her to be recruited as CEO of St. George Bank...... She commenced in January 2002 – at the time, St. George was seen as a possible takeover target (especially after the purchase of Colonial State Bank by the Commonwealth Bank) but Kelly increased the bank's profitability and achieved much higher levels on return on assets[.........In November 2004, St. George Bank gave Kelly a pay rise and extended her contract indefinitely with the capitalisation of the bank having risen by $3 billion since the start of her term as CEO. The Australian Banking & Finance magazine gave her an award for Best Financial Services Executive in 2003 and 2004.

    Due to her success at St George, there was extensive media speculation in June 2005 that she would return to the Commonwealth Bank as CEO on the retirement of David Murray AO, but Kelly said that she was committed to remaining with St. George. Murray was replaced by Ralph Norris, the former CEO and managing director of Air New Zealand..........On Friday 17 August 2007, she announced her resignation as CEO of St. George Bank to take up the same position in Westpac from 2008....... She started work as Westpac CEO on 1 February 2008........A Westpac takeover of St. George Bank was announced on 12 May 2008. The takeover was approved by the Federal Court of Australia and finalised on 26 May 2008.

    In October 2010, Kelly announced a target to have women occupy 40% of the top 4000 managerial positions at Westpac, a task reported by The Australian newspaper to have been almost achieved by March 2012.............In 2011, Forbes ranked her the 32nd most powerful woman in the world, she was ranked 8th in 2010 [5] she was ranked 18th in 2009;[10] and ranked 11th in 2008

  • doyla66
    doyla66 Saturday, 08 March 2014

    gfs246

    And from 2000 till 2013 banks robbed aussies of their homes !!!!
    well done Peter KELLl, good job, you must be very proud of yourself for all the pain inflicted on people & all the lives you have ruined.

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