Tag: ANZ

Yes it does pay to soften up the market with the bad news well ahead of trying to release the (relatively) good news.

A bit of housekeeping and pre-emptive pain taking from the ANZ Bank yesterday once again plunged the banking sector into the red, and sent investors heading for the relative safety of resources.

The new ANZ Banking Group CEO, Mike Smith has joined retiring Westpac CEO, David Morgan in calling for the abolition of the four pillars banking policy to allow Australian banks to compete with a looming wave of competition from Asia.

The market punished the ANZ yesterday, despite reporting its highest ever profit.

The ANZ has found a replacement for the very successful CEO, John McFarlane.

There’s a new rule of thumb for every investor interested in or invested in banks, watch the result, not the upgrades.