Earlier this week, Tyro announced that, following his recent resignation, former CEO Jost Stollmann has made arrangements to sell 24 million of his shares in the company. The sale is likely to be comprised as follows: eight million shares to Atlassian co-founder and Tyro backer Mike Cannon-Brookes for A$1.045 per ordinary share; and a further 16 million shares to Tyro employees and company officers (or close associates) for $0.845 per ordinary share with Michael Cannon-Brookes assuring full take-up of the allotment. Following completion of the proposed sale, Stollmann will remain one of Tyro's largest shareholder, with about 9.4 per cent of Tyro's ordinary shares, according to a research note from equities trading firm PrimaryMarkets. TSB's chief executive officer and managing director, Kevin Murphy, is to retire from the New Zealand bank having been in the role for nearly a decade and with the company for nearly forty years. The bank stated that he delayed his retirement to ensure the completion of TSB Community Trust's acquisition of Fisher Funds and to complete TSB's recent rebrand. TSB is now the sixth largest bank in New Zealand with branches across the country. The bank stated that an executive search is underway for a new chief executive, although completion of that process is not expected before Murphy leaves on 31 January 2018. A TSB director and experienced community banker, Murray Bain, will be interim managing director. ANZ has appointed Ron Spector as its managing director of new business, emerging technology and ventures, reporting to group executive digital banking, Maile Carnegie. In his new role, Spector will have responsibility for developing potential new business opportunities and disruptive technologies as well as investing in emerging growth companies to improve the products and services provided to customers, according to a statement from ANZ. Prior to joining ANZ, Spector had leadership roles in Silicon Valley tech firms, was Macquarie Group's US head of technology investment banking, and a founding partner of Macquarie Technology Ventures. He will be based in Sydney from January 2018. Ricky David Gillespie, a former representative of the Commonwealth Bank's financial planning subsidiary, Commonwealth Financial Planning Limited, has pleaded guilty in the Southport Magistrates Court to one rolled-up charge alleging the forgery of 33 documents. ASIC alleged that between 1 January 2007 and 13 June 2009, Gillespie, then a senior financial planner at the Broadbeach Commonwealth Bank branch on the Gold Coast, forged the signatures of a number of the bank's clients to whom he was providing financial advice to meet the requirements of the Commonwealth Bank's internal audit process. A sentencing date has been set for 12 December 2017. Gillespie being permanently banned by ASIC in 2012 from providing any financial services. ASIC has banned Sergio Nicolo Belardo, a former financial adviser with BBY Ltd, from providing financial services for ten years. Belardo was a Perth-based authorised representative of BBY from September 2013 to May 2015 and in that role provided advice and dealing services to BBY retail