Briefs: QPCU name disappears, APRA appointments
Queensland Police Credit Union members voted in support of a name change at the institution's annual general meeting on Friday. The term "credit union" will be removed from its name, which will become QPCU Ltd. It will apply to APRA to use the term "bank" in a new trading name. QPCU chief executive Grant Devine said in a statement that the organisation was aiming to grow its membership outside the Queensland Police Service.Helen Rowell has been appointed deputy chair of the Australian Prudential Regulation Authority, and former Suncorp Life chief executive Geoff Summerhayes has been appointed a full-time APRA member. Rowell has been at APRA since 2002 and has focused on the superannuation industry. Proxy advisers Ownership Matters have recommended investors vote against Westpac's remuneration report at the annual meeting next month, the Financial Review reports. The firm argues the bank's most senior staff in reality failed to meet earnings hurdles and that the board wrongly considered a new approach to capitalisation of some technology expenses in order to justify payment of bonuses.