ANZ has raised A$1.1 billion through an issue of capital notes. The funds raised will increase the bank's tier one capital ratio by 30 basis points. Investors will receive a margin of 3.4 per cent over the six-month bank bill rate. As additional tier one capital, the notes are subject to a non-vaibility trigger. Centrelink needs to hire executives with operational experience in financial services, a review into the Centrepay bill payments service suggests. Centrepay is an alternative to direct debit systems used by several dozen service providers that collect rent and lease payments, and utility bills direct via income transfers. The service collects around $2 billion a year from billers. It cannot be used by banks or credit unions, but can be used by some finance companies. Deutsche Bank has hired James McMurdo to head its Australian operation, the Sydney Morning Herald reports. McMurdo was most recently a partner at Goldman Sachs and was based in London managing the European private equity group. He was previously co-head of investment banking for Goldman's Australian business.