ME Bank

What's to stop Philip Lowe moving to a private bank after he leaves the RBA? It's what his predecessors did

Retrieved on: 
Tuesday, September 5, 2023

Surely Reserve Bank Governor Philip Lowe won’t move to a private bank after his term as governor ends next week.

Key Points: 
  • Surely Reserve Bank Governor Philip Lowe won’t move to a private bank after his term as governor ends next week.
  • Banks such as Westpac, NAB, the ANZ and Macquarie Bank deal with the Reserve Bank all the time.
  • Every one of the four banks I just mentioned has employed either a former Reserve Bank Governor or Treasury Secretary.

Perceptions matter when a Governor moves on

    • Read more:
      The RBA has kept interest rates on hold.
    • Philip Lowe’s predecessor, the man to whom he was deputy, Glenn Stevens, finished up as Reserve Bank Governor in September 2016 and joined the board of the Macquarie Bank and Macquarie Group in December 2017.
    • Stevens’ predecessor as governor, Ian Macfarlane, finished as head of the Reserve Bank in September 2006 and joined the board of the ANZ bank in February 2007.
    • In 2021–22 Philip Lowe was on a package of $1.037 million including superannuation and a salary of $890,252.
    • On retiring from the Reserve Bank in 1968, its first governor HC Coombs, chaired the Council for the Arts and the Council for Aboriginal Affairs.

Bank of Queensland Goes Live on Temenos Banking Cloud

Retrieved on: 
Thursday, August 18, 2022

Temenos (SIX: TEMN) today announced that Bank of Queensland (BOQ) has gone live with retail banking services on Temenos Banking Cloud for customers served under the BOQ, Virgin Money and ME Bank brands.

Key Points: 
  • Temenos (SIX: TEMN) today announced that Bank of Queensland (BOQ) has gone live with retail banking services on Temenos Banking Cloud for customers served under the BOQ, Virgin Money and ME Bank brands.
  • As part of the project, BOQ Group will migrate all of its banking operations across three banking brands leading regional bank BOQ, and challenger banks Virgin Money and ME Bank.
  • BOQ Group is progressively rolling out the Temenos Banking Cloud across the entirety of the retail banking business lines, with business banking and lending to follow.
  • Temenos Banking Cloud brings the unmatched breadth of Temenos front-to-back banking services.

Homeowners failing to inspect their property experience buyer's remorse

Retrieved on: 
Thursday, November 25, 2021

A recent study by ME Bank revealed that 55% of property buyers spent less than an hour checking out the property they eventually purchased.

Key Points: 
  • A recent study by ME Bank revealed that 55% of property buyers spent less than an hour checking out the property they eventually purchased.
  • The study also found that a third of buyers failed to arrange building and pest inspections.
  • Melbourne buyers were hit with tough restrictions on in-person inspections, which has contributed to the lack of building inspections, says Metrospect.
  • As a result, buyers end up spending more money on fixing, replacing or improving their property.