Austrade senior executive Timothy Beresford has been appointed chief executive of the Australian Financial Security Authority, which administers the country’s personal insolvency system and the Personal Property Securities Register. In his role, he is also Inspector-General in Bankruptcy and Registrar of Personal Property Securities. His current job at Austrade is deputy chief executive of global client services. He has also worked in the Department of Prime Minster and Cabinet and at Westpac. ANZ has cut 5 basis points off the savings rates of its Online Saver and Progress Saver accounts. The introductory rate on Online Saver has been cut from 20 bps to 15 bps (with a base rate of 5 bps), and the ongoing bonus rate on Progress Saver has been cut from 20 bps to 15 bps (with a base rate of 1 bps).