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clock Created with Sketch. 26/09/19
14:04
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Originally posted by gragou02:
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Estimating the EPS of this company is pretty tough as there are so many vagaries going forward. They were recently confronted with proceedings by the APRA regulators which sought to disqualify five executives including the Managing Director and the Chairman. As a result of the action these two senior directors stood aside. A follow on from this (I think) could have been a class action of some sort. I think Chris Kelaher was an integral part of the company's success over recent years. They've been seeking to purchase the ANZ pensions and Investments business which was put in jeopardy because of the proceedings. On top of the proceedings, APRA demanded changes to the business model.
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I have difficulty understanding how the ANZ deal to sell Wealth Management Solutions to IOOF will get approved by APRA. Here's an interesting article that puts the case for no-deal with ANZ as the better outcome for IOOF shareholders. Food for thought.https://www.copyright link/companies/financial-services/ioof-could-drive-harder-bargain-with-anz-20190902-p52n7f
(20min delay)