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Ironfist

Not sure what this will do to Sanford's good reputation and service standards:

Sanford partners with CommSec
We are pleased to announce that IWL Limited, the parent company of Sanford Securities Pty
Ltd, has been bought by the Commonwealth Bank of Australia. Commonwealth Securities
Limited (CommSec) has assumed control of IWL effective 12 November 2007 and full ownership
for Sanford Securities will be transferred on 26 November 2007.
Otto Buttula has ceased to be Chief Executive Officer and Executive Director of IWL Limited,
effective 12 November 2007.
Matt Comyn, General Manager CommSec, will take on the role of CEO IWL Limited as of 12
November.
CommSec will be working closely with Sanford Securities staff and customers to ensure their
continued success under CommSec’s ownership.
A detailed review of Sanford Securities is being undertaken to enable CommSec to understand
the business operations better.
We will be working closely with CommSec to ensure that our customers continue to receive
uninterrupted support and service, and will ultimately benefit from an enhanced range of
products and services.

Cheers