Ann: Wisr Appoints Chief Product Officer, Chief Strategy Officer, page-14

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Lillard0

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10/09/20

16:22

Post #: 47245973
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Originally posted by australiasydney ↑

My point is the story from management has gone from loan growth to solving social issues.

This announcement lends very little into how these appointments will be part of the growth story for the company or how it will become profitable, but talks a lot about the positive impact of society.

And I quote

"Her passion for problem solving complex social issues and developing evidence-based social change strategies will be integral in delivering Wisr's vision to improve the lives of Australians through financial wellness" - Mr Nantes

IMHO - In the midst of a recession, with your second-biggest economy in lockdown. I would want to understand how newly created roles fit in with the financial responsibilities of the company. How will they tackle loan impairments, NIM, customer penetration, loan run-offs etc

The FY20 P/L disappointed the market and this announcement does little to show how they are bridging the gap.

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I don’t think you’ve comprehended what the announcement is trying to say. Wisr as a company values financial wellness which is a social value, Lili Sussman has a background in solving social change issues. Wisr wants to use this focus on financial wellness as a point of difference so they’ve gone and appointed Lili due to her proven background in resolving social issues because this fits what the company is about. Do you think the chief strategy officer at Westpac deals with impairments?

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Ann: Wisr Appoints Chief Product Officer, Chief Strategy Officer, page-14

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