Briefs: New CFO for Goldfields, new CIO for ANZ and Flexi ABS launches
Goldfields Money has announced its new chief financial officer will be Malcolm Cowell, who was previously audit director at KPMG in Perth. He replaces Michael Verkuylen, who has resigned to take up a role as the CFO of Keystart Home Loans in Perth. ANZ has appointed Mark Rider as chief investment officer for its Wealth Australia business, effective from 10 March 2017. He joined ANZ in 2013 as head of investment strategy and asset allocation, after 16 years at UBS and ten years as an RBA economist. Rider succeeds Stewart Brentnall who is leaving ANZ for another CIO role. FlexiGroup is likely to finalise a series of asset-backed floating-rate notes, seeking to raise more than A$250 million. The collateral consists of small-balance unsecured Australian dollar consumer loans, originated and serviced by Certegy Ezi-Pay Pty Ltd, whose ultimate parent is FlexiGroup. The collateral pool consists of retail point-of-sale interest-free consumer finance loans for a wide variety of products, including solar equipment and jewellery according to a Fitch pre-sale report. At the cut-off date at 6 February 2017, the total collateral pool consisted of just over 128,000 individual consumer loan contracts totalling A$261 million. Two in five borrowers (41 per cent) are repeat Certegy customers. The arranger is Commonwealth Bank of Australia, also one of the joint lead managers, along with National Australia Bank. Pricing on the Flexi ABS Trust 2017-1 is expected to be finalised today (Wednesday 14 February). CBA has given indicative pricing of 70 to 75 basis points over the one-month bank bill swap rate for the top-rated notes, and 130 to 135 bps over 1-month BBSW for the two tranches of A2 notes.