Briefs: New customer banking bass at ME, S&P quietly confident on RMBS, Flexigroup markets securitis
• Industry super fund-owned bank ME has appointed Craig Ralston as its group executive, customer banking, effective yesterday (1 May). Ralston joined ME in February 2015 as head of strategy to work on the bank's strategic and business planning cycle, before being promoted in June 2015 to group executive, service excellence overseeing ME's customer on-boarding and after-care; and has been acting in the role of chief information officer since December 2017. Prior to joining ME, Craig held several leadership roles at Bendigo and Adelaide Bank.• Stephen Capello has quit as CEO of BankVic (a former police credit union) and taken up the CEO post at Hume Bank in Albany. At BankVic, Capello "oversaw a significant period of transformation and growth" the Hume board wrote in a media release. Prior to BankVic, Capello held executive positions at ANZ as head of technology and at Aviva as deputy CEO and CFO in Hungary, central Europe and Spain. • The strong collateral performance of residential mortgage-backed securities transactions in Asia-Pacific over the last ten years has heightened their appeal to offshore investors hungry for yield in a low interest rate environment. A report published by S&P Global Ratings has compared the major RMBS markets in the region, notably Australia and Japan, through to China, and come back with good news. "We expect issuance volumes to continue to grow in all three markets but China's growing middle class and expanding economy will drive securitisation new issuance in Asia-Pacific in the years ahead," S&P concluded. • FlexiGroup is marketing a securitisation of a portfolio of Australian unsecured, retail, 'no interest ever' payment plans, originated by, a subsidiary, Certegy Ezi-Pay Pty Ltd. This is FlexiGroup's eighth term-securitisation of Certegy assets, according to a Moody's Investors Service pre-sale report. Certegy is looking to raise at least A$270 million. Moody's has assigned provisional ratings to notes to be issued by Perpetual Corporate Trust Limited in its capacity as the trustee of the Flexi ABS Trust 2018-1. The top ranked A class notes (includes A1, A2 and A2-G notes) were assigned AAA ratings. The $15 million Class F Notes were not rated by Moody's.