Briefs: ACCC ANZ Suncorp ruling, new Productivity Commission chair, Paypa Plane CEO heads to US 25 July 2023 5:12AM Banking Day staff Briefs, ACCC, ANZ, Suncorp, M&A, Payments, mobile & wallets, Fintech, Appointments Simone Joyce, CEO, Paypa Plane The Australian Competition and Consumer Commission has asked for another extension before handing down its review of ANZ’s merger authorisation application for the acquisition of Suncorp Bank. The ACCC was to have delivered its findings on June 12 but had sought an extension until July 28. The new deadline is August 4. The deputy secretary of the economic division of the Victorian Department of Treasury and Finance, Chris Barrett, has been appointed as the new chair of the Productivity Commission. Barrett’s CV includes Australia’s ambassador to the OECD, executive director of the European Climate Foundation and chief of staff to former Treasurer Wayne Swan. He replaces Michael Brennan and has been appointed for a five-year term. Co-founder and chief executive of payments technology company Paypa Plane, Simone Joyce, is relocating to New York, as the company pursues opportunities in the US market. The company counts Commonwealth Bank among its shareholders (with a 20 per cent stake) and raised US$10 million in a series A funding round in March. Paypa Plane’s focus in Australia has been on working with financial institutions and businesses to enable real-time payments. It sees similar developments in the US where its technology can play a role.
