Daily Dispatches: CBA seeks top-five stockbroking spot
The institutional banking arm of the Commonwealth Bank has ruled out a major acquisition of a stockbroking business to bolster its expanding equities trading division as it seeks to become a top five player in the Australian market. (Business Day)
Suncorp-Metway hired Greenhill Caliburn to assess a potential sale of its funds management division, the Australian Financial Review reported. (Bloomberg)
National Australia Bank "reneged" on lending terms to the former MFS financial group and MFS chief executive Michael King was "not happy", the NSW Supreme Court heard yesterday. (The Australian)
Former ABC Learning Centres boss Eddy Groves was misled by the Commonwealth Bank and therefore should not have to repay a $6m debt, the Supreme Court heard yesterday. (News.com.au)
