Aussie Welcomes Commonwealth Bank of Australia's Increased Investment
Executive Chairman and Founder John Symond today agreed for the Commonwealth
Bank (CBA) to increase its shareholding to 80 percent, by acquiring a further
47 per cent.
SYDNEY, Dec. 18, 2012
SYDNEY, Dec. 18, 2012 /PRNewswire/ --Executive Chairman and Founder John
Symond today agreed for the Commonwealth Bank (CBA) to increase its
shareholding to 80 percent, by acquiring a further 47 per cent.
John Symond will continue as Executive Chairman of Aussie and will retain a 20
percent shareholding, while continuing to be involved in the growth and
direction of the company.
"We welcome this arrangement as CBA's increased interest in Aussie is a great
opportunity for the company to further accelerate our growth. We now have the
opportunity to grow by investing in our product and service offerings and will
remain a strong competitor in the mortgage broking channel," said Mr Symond.
Aussie will continue to offer hundreds of home loan options through its
extensive panel of 18 lenders, as well as the range of non-mortgage Aussie
products, such as insurance, personal loans and credit cards.
Mr Symond said, "We will continue to grow our existing external business
relationships with our diverse partners and establish new relationships to
ensure we continue to provide a competitive and broad choice of products and
services from a diverse range of business partners and lenders to our
"The Commonwealth Bank will give us additional strength to grow and service
our customers. We will continue to offer a wide range of options, providing
consumers the best options for their needs. It's business as usual for
Aussie," he concluded.
Contact: Fiona Hamann, Aussie, (02) 8297 0560 http://www.aussie.com.au
Press spacebar to pause and continue. Press esc to stop.