Creative Destruction in Australian Banking
11 July 2018
In this panel, we invited businessman Don Argus AC, Tim Coyne Banking & Capital Markets Partner with Ernst & Young, and Matt Davison, senior research analyst with Martin Currie Australia to discuss how the Royal Commission into the banking sector has revealed widespread governance and culture issues, with far reaching consequences for the future of our financial institutions.
Don Argus - AC
Don Argus is Chair of the Bank of America Merrill Lynch Australia Advisory Board and Member of the Bank of America Global Advisory Council. His previous directorships include Chair of BHP Billiton; Chair of Brambles; Director of the Australian Foundation Investment Company; and Director of Southcorp. Don has also held the positions of Member of the International Advisory Board of Allianz AG; Member of the International Advisory Committee to the New York Stock Exchange Board of Directors; and Co-Chair of the Policy Transition Group on Mining Resources Rent Tax for the Australian Government. His executive roles have included Chief Executive Officer of National Australia Bank.
Graeme Samuel - AC
Graeme Samuel AC is Chair of the Victorian Taxi Services Commission, National President of Alzheimer's Australia, a Council member of the National Health and Medical Research Council and Chair of its Health Innovation Advisory Committee and the National Institute for Dementia Research, a Commissioner of the Australian Rugby League Commission, Chair of the South Eastern Melbourne Primary Health Network. He was Chair of the Commonwealth Government’s Panel of Review of Australia’s Independent Medical Research Institutes.
His professional career has spanned senior roles in law, investment banking and public service. Graeme was the President of the National Competition Council, Chair of the Australian Competition and Consumer Commission and Associate Member of the Australian Communications and Media Authority.
His extensive community involvement has included: Chair of the Playbox Theatre and Opera Australia; Commissioner of the Australian Football League; Chair of the Melbourne and Olympic Parks Trust; and Chair of the Inner and Eastern Health Care Network. As a Vice-Chancellor's Professorial Fellow at Monash University, Graeme is a co-Director of the Monash Business Policy Forum with a particular focus on public policy, including economic reform and competition policy.
He was appointed an Officer of the Order of Australia in 1998. In 2010 he was elevated to a Companion of the Order of Australia "for eminent service to public administration through contributions in the area of economic reform and competition law, and to the community through leadership roles with sporting and cultural organisations".
Senior Research Analyst
Matthew joined Martin Currie Australia in June 2013. Prior to joining the firm, Matthew worked at Merrill Lynch for nine years, and was their lead banking analyst since 2007. Prior to this, Matthew was with Citigroup Smith Barney for two years as an equity research analyst in the financials team and at National Australia Bank for three and half years in its M&A division, where he was involved in a number of large transactions. Matthew has a bachelor of commerce (honours) from the University of Melbourne, and holds a graduate diploma in applied finance and investment from the Securities Institute of Australia.
Partner, Financial Services - Oceania Financial Services Transaction Advisory Services leader
Tim leads the Oceania Financial Services Transaction Advisory Services business, which involves managing EY’s Financial Services sector transaction advisory services across Oceania, including corporate finance strategy, due diligence, business modelling, integration and separation services.
Tim is a senior banking and capital markets partner in the Financial Services Practice with over 27 years’ experience in auditing and advising a diverse range of international and domestic banks, government financial authorities and large financial services institutions. Tim led the EY banking and capital markets industry sector group for a number of years and has more recently led a number of significant major IPO and divestments/acquisitions.
Recent transactions included:
- Recently led the buyside due diligence for the underbidder for the acquisition of the Commonwealth Bank of Australia life insurance operations in Australia and New Zealand.
- Led the buyside due diligence for an underbidder on the Leaseplan Australia and New Zealand operations for a global fleet management company in 2017
- Led the vendor due diligence for the successful sale of GU Health for Australian Unity in 2017
- Led the buyside due diligence for an underbidder on the Esanda Finance business sold by ANZ Banking Group in 2016
- Led the vendor due diligence for an emerging wealth management and consumer finance business in 2017.
- In 2015 Tim led the Independent Accountant review for the Clydesdale Bank Plc demerger and IPO for National Australia Bank Limited.
- Tim was the Lead Financial Adviser to the Department of Finance on the scoping study and subsequent IPO/privatisation of Medibank Private Limited by the Federal Government in 2014.
Prior to Tim’s recent focus on mergers, acquisitions and divestments, Tim was a senior audit partner managing external audits and advisory engagements in a number of the major Australian banks, regional banks and credit unions/ mutual banks. Tim has extensive regulatory experience in licensing, prudential standards, anti-money laundering over many years.