Wealth and Asset Management
Citi says SMSFs, low returns may push major banks to sell-off wealth arms
Lacklustre earnings growth, low returns on equity and the explosion of self-managed superannuation schemes could prompt the major banks to sell all or parts of their wealth businesses, global bank Citi predicts. Citi analyst Craig Williams noted that the banks' wealth arms, largely acquired in the early 2000s, had not…
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Click here to read the full story: The Sydney Morning Post