Briefs: NAB completes institutional share offer, Westpac dispute with former St George staff drags o

National Australia Bank has completed the institutional component of its 'two for 25' entitlement offer of new ordinary shares. The institutional component contributed A$2.7 billion towards the target of $5.5 billion. The retail component opens today (Wednesday). The retail offer price is $28.50 a share. The stock closed at $34.54 yesterday.
A long-running series of court actions involving Westpac and seven former senior employees of St George, in the wake of the banks' 2008 merger, is heading to mediation after both parties told the Federal Court they were not quite ready to proceed. Justice John Griffiths lambasted both sides, ordered them to lodge all outstanding reports and to have an agreement on costs completed by 30 June, in an attempt to speed up the process. The matter will continue in the Federal Court in July, ahead of a hearing by the Full Federal Court in November.
Bank of Queensland has appointed Donna Vinci to the new role of group executive enterprise solutions, following a decision to combine BOQ's IT, operations and project office teams. She joins BOQ from IAG, where she was group general manager, group digital and group chief information officer. Vinci will start in July. BOQ chief information officer Julie Bale will leave the bank after three years in the role.