Teachers Mutual Bank subsidiary UniBank has entered the third party distribution market. Teachers itself entered the third party market in 2013 and now has partnerships with 12 aggregators. Its home loan settlements grew 33 per cent last financial year. Teachers merged with Unicredit (now UniBank) last year. Audit, tax and advisory firm BDO has changed its business approach. BDO said this change has indirectly led to the appointment of 30-year banker Peter Winterflood to its partner ranks. Former Suncorp restructuring executive, Darren Stacey, joins BDO as an executive director. Winterflood said:  "There has been a clear shift in the way banks approach businesses that are experiencing financial distress ... to a more collaborative approach whereby the banks try to work with the business to turn it around. " BDO has claimed Winterflood and Stacey are the only former executive level bankers working in a business restructuring division, anywhere in Australia. ANZ Banking Group is expected to launch a $1 billion hybrid raising as early as this morning, the AFR's Street Talk predicts, citing sources that said ANZ would target a $1 billion raising, depending on investor demand. The securities are expected to come to market with a 9½ year mandatory call date and a 7½ year optional call date. It's expected the offer will replace the bank's existing "ANZ CPS2" securities, with investors encouraged to roll existing holders into the new deal.