Business Services Industry
Growth focus for revamped Adelaide Bank.
Australasian Business Intelligence, June, 2007
Byline: Katherine Jimenez
Jun 13, 2007 (The Australian - ABIX via COMTEX) -- Adelaide Bank CEO, Jamie McPhee, has reorganised the group's operations into four key business units. The revamp, which separates the company's wholesale, retail, business lending and wealth management operations, aims to allow the bank to focus on innovation, investment opportunities and potential bolt-on acquisitions. The wealth management division will be headed by Anthony Baum, while former shared services boss, Tim Piper, will be responsible for wholesale mortgages. Stephen Small will take charge of retail banking and responsibility for business banking will go to Philip Riquier. Adelaide Bank shares fell $A0.03 on 13 June 2007, to end trade at $A15.07.
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