It is not only in the big four. It would be wrong to imply that by having a 17% stake in Westpac, for example, HSBC also has 17% of the vote: as a custodian, HSBC only processes the proxy votes of the customers for whom it holds the shares—and these customers could be large sovereign wealth funds, or a board member of Westpac, or a family-owned business in Sydney. Since 1978, Mr Smith had held 'a wide variety of roles in Commercial, Institutional and Investment Banking, Planning and Strategy, Operations and General Management’, according to ANZ’s annual report, including as director of HSBC Australia Limited from 2004-2007, immediately before he became CEO of ANZ. Search real estate for sale or rent anywhere in Australia from licensed estate agents on The Australian companies you didn’t know were owned by the big four banksPremier sets date to reveal his post-shutdown plans for VictoriaPaul Keating accuses government of attempting to destroy superannuationCraig Kelly slammed after ‘disgrace’ attack on medical officers over hydroxychloroquineMayor, Trump trade blame over Portland violence as one man shot dead‘A true hero’: Video Music Awards night dedicated to late Bushfire royal commission says govts need to co-ordinate for ‘more intense’ natural disastersAged care sector to receive $563m package, incentives for staffFemale prison guard stabbed in ‘brutal attack’ inside NSW maximum security jail Our purpose and values. According to my analysis, all four of our big banks are majority-owned by American investors. NAB states the same. There’s an independent wealth management group, a closed-end fund, an investment management firm, and so on. Finty does not list every product currently available in the market.

Premier sets date to reveal his post-shutdown plans for Victoria Craig Kelly slammed after ‘disgrace’ attack on medical officers over hydroxychloroquine Paul Keating accuses government of attempting to destroy superannuation Bushfire royal commission says govts need to co-ordinate for ‘more intense’ natural disasters Aged care sector to receive $563m package, incentives for staff Premier sets date to reveal his post-shutdown plans for Victoria Paul Keating accuses government of attempting to destroy superannuation Female prison guard stabbed in ‘brutal attack’ inside NSW maximum security jail Bushfire royal commission says govts need to co-ordinate for ‘more intense’ natural disastersSubscribe for free to get the latest breaking news and analysis sent to your inbox.The Australian companies you didn’t know were owned by the big four banks The scandal has already cost former CEO Ian Narev his job. Providers typically alert Finty in advance to product data changes. It specialises in superannuation, investments, insurance and financial advice.Asgard is what is called an investment ‘platform’ – basically an online investment supermarket.

Much of the time, though, you would have no idea because the advisers appear to be independent small businesses.ANZ’s only subsidiary of note that is not ANZ-branded appears to be OnePath, a wealth business like BT and Colonial First State, which ANZ is in the process of splitting up and selling off to IOOF and Zurich.This lack of separately branded subsidiaries makes ANZ by far the most transparent of the big four.Copyright © 2020 The New Daily. It is in fact the same four names as the top four shareholders in each of the four banks—but it’s not each other. They simply represent a very large pile of money, all of which has to be parked somewhere.On a different note, however, that 17% stake HSBC’s custodian arm has in Westpac could, in theory, represent just one person—or four big investors—buying through a variety of mutual funds, each of which has HSBC as their custodian. But in principle, HSBC, in a custodian role, acts only as the messenger, not the decision-maker.As a wholly owned subsidiary of HSBC Bank Australia Limited, the custody nominees business held more than $700 billion in assets. Their combined assets in 2013 stood at $2.86 trillion—or roughly twice the size of Australia’s national income.They are four of the five largest Australian companies by market capitalisation, together representing more than a quarter of the market. According to the big four’s annual reports for 2013, here’s who owns ordinary shares: HSBC Custody Nominees (Australia) Limited: 16.91% of Westpac; 16.83% of … Level 4, 114-120 Castlereagh Street, Sydney, NSW 2000, Australia. AFCA: 45547 If you apply for a product, your application will be assessed by the provider issuing the product. In the company’s “about us” section, it laments the “lack of transparency” in the mortgage broking market.Ironically there is almost no sign on the website that Uno is majority-owned by major mortgage lender Westpac.Hastings, meanwhile, is a major infrastructure investor that invests huge sums of money on behalf of superannuation funds.We’ve already talked about UBank and realestate.com.au Home Loan in MLC is NAB’s answer to BT – a superannuation, investment and financial advice company.Plum is part of MLC, and specifically provides default workplace superannuation products. Finty Rewards are offered on products at our discretion. They are not active participants in decision-making. ACL: 425682. The RBA is involved in banking and registry services for federal agencies and some international central banks. Finty is not a credit provider, nor does it advise consumers to apply for a specific product with any provider in particular. Westpac explains that shareholders such as HSBC Custody Nominees (Australia) Limited (16.91% of total shares) 'may hold shares for the benefit of third parties’—the definition of their role as custodians.

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