Retail Banking News Updates, August 8th 2012

CBA appoints retail banking group executive
Commonwealth Bank of Australia (CBA) has named Matt Comyn as group executive of retail banking services. He has been with CBA since 1999, other than for a brief period with Morgan Stanley Smith Barney. Comyn currently runs the bank’s local business banking unit, a role he has held since 2010. He replaces Ross McEwan who joined RBS.  

Mizuho Bank and Shinhan Bank cooperate in pension plans
Japan’s Mizuho Corporate Bank and Korea’s Shinhan Bank have signed a business partnership agreement to cooperate on defined contribution pension plans. The agreement allows both banks to help each other implement and manage DC pension plans for their customers in their counterpart's country.

BofA expands commercial card capabilities
Bank of America Merrill Lynch (BofA) has expanded its card solutions to Argentina, the Czech Republic, Finland and Poland, as well as the Scandinavian countries of Denmark, Norway and Sweden. Additionally, the bank plans to make available Single Euro Payments Area (SEPA) Direct Debits.

Re-disseminated by The Asian Banker