Group Corporate Affairs

Total Page:16

File Type:pdf, Size:1020Kb

Group Corporate Affairs Group Corporate Affairs 500 Bourke Street Melbourne Victoria 3000 AUSTRALIA www.nabgroup.com National Australia Bank Limited ABN 12 004 044 937 ASX Announcement Monday 17 November 2008 NAB Australian Region market update National Australia Bank Executive Director and CEO Australia, Ahmed Fahour, is conducting a series of market briefings following the release of the NAB full year results on Tuesday 21 October. The briefing materials are attached and are largely based on the information disclosed during the full year results announcement. “NAB’s Australian Region continues to deliver excellent results in a challenging market, demonstrating increased revenue growth and a tight focus on cost control,” Mr Fahour said. “This is an outstanding achievement when viewed in the context of the external environment over the course of the year. “Throughout this difficult time NAB has continued to invest in our business by developing new brands such as UBank, extending our microfinance initiatives, delivering new products such as the Clear home loan, and commencing new infrastructure initiatives such as our Next Generation platform. “NAB has remained strong through these challenging conditions, and continues to focus on providing excellent support and service to our customers,” Mr Fahour said. Australian Region Financial Performance The Australia Region delivered cash earnings growth (before IoRE) of 15.8% and underlying profit growth of 19.3% over the prior comparative period. Revenue growth of 10.1% was an excellent result achieved in a very challenging environment. The strong performance of cash earnings growth of 18.5% by the Australia Banking business reflects continued momentum in business lending and consumer deposit gathering. MLC delivered cash earnings growth of 1.5% and delivered an excellent insurance result, whilst the investments businesses were negatively impacted by the investment market downturn. The regional expense base decreased marginally over the prior comparative period, which is a standout result achieved in a 3 to 4% inflationary environment and within a competitive labour market. The cost base in 2008 has been held relatively flat for the last three years and stands lower than 2006. Bad and doubtful debt charges were up 55% reflecting the tightening in the credit environment and a slowdown in economic growth. The charge includes increases across the portfolio, with higher specific provisions generated across Business & Private Banking and in particular, the impairment of one large business client in the March 2008 half. Significant work has been undertaken in the Australia Region to ensure risk associated with For personal use only the lending book is actively managed and priced appropriately. Asset quality is in good shape with 90 days past due stabilising and is flat on the first half of 2008. The Efficiency, Quality and Services program was central to the improvement in the banking cost to income ratio to 40.6% for the six months to September 2008 and has delivered over $300 million in benefits in the year to September 2008, bringing a cumulative total sustainable benefit in excess of $500 million since the program began in 2005. The region remains committed to operating expenses remaining within the Australian inflation rate to 2010. NAB has committed to the first phase of its Next Generation Platform initiative that will replace the core banking systems over the next five years to underpin its strategy for sustainable out-performance. NAB’s strategic focus on specialised businesses concentrating on the needs of the customer, particularly in the core business banking area, demonstrated strong revenue and volume growth in areas such as health, ‘agri’ and education. NAB aims to better manage the needs of high net worth customers through the creation of the Private & Institutional Wealth division and has launched a specialised, low cost, high service direct bank to customers in the growing direct segment through the Star Direct & Alliances business. The first brand in NAB’s Star Direct & Alliances division, UBank, is a new direct channel and was launched in 2008 offering term deposits. Over time, a range of additional savings, transaction and investment products will be added. MLC continues to perform well in very difficult investment markets with underlying cash earnings of $408 million slightly ahead of the prior period. This result reflects the diversification of the MLC business model including a strong and growing insurance business, accompanied by the retail platform “MasterKey” which is supported by MLC's manager of manager’s investment process. MLC's advice networks continue to grow strongly as an outcome of the commitment to running a sustainable and transparent business model. A highlight of the MLC result is also expense control. For further information: Media Investor Relations Brandon Phillips Nehemiah Richardson M: +61 (0) 419 369 058 M: +61 (0) 414 446 876 Felicity Glennie-Holmes Lyndal Kennedy M: +61 (0) 412 673 038 M: +61 (0) 400 983 038 Kerrina Lawrence Wendy Carter M: +61 (0) 417 034 738 M: +61 (0) 488 318 952 For personal use only National Australia Bank Limited ABN 12 004 044 937 full year results Australia Region Market Update September 2008 Results Ahmed Fahour, Executive Director & CEO Australia November 2008 For personal use only full year market update Contents 2008 X Overview X Underlying results X Sustainable Out-Performance Strategy For personal use only 1 full year market update Australia Region How we achieved this result 2008 Highlights* X Net revenue of $9,357 million up 10.1% on PCP, costs at $4,047 million flat on PCP X Underlying profit $5,310 million up 19.3% on PCP X Cash earnings after tax^ $3,328 million up 15.8% on PCP X Grew Region ROE in a difficult year How we achieve this result X Managed the market conditions; including higher funding costs and pressure on margins; with a focused sales force emphasising deposits growth X Continued to progress our Efficiency & Quality Services (EQS) agenda with $500m plus of cost savings For personal use only since the program commenced X Closely monitored underlying asset quality, with a flat B&DD expense 2H08 v 1H08 2 Source: Internal. * FY08 ongoing basis. ^ Cash earnings before IoRE includes Other (incl. Asia) full year market update Australia Region: Achieving Sustainable Results CAGR FY05 to 2FY08008 = Australia Region Half Yearly Cash Earnings ($m) 16.3% (before IoRE) 1,743* 100 1,585* 88 1,521* 95 87 125 1,353* 132 76 481 1,223* 75 107 1,118* 419 65 88 395 80 368 344 309 1,080 906 948 802 663 722 Mar 06 Sep 06 Mar 07 Sep 07 Mar 08 Sep 08 For personal use only Business & Private Banking Retail Banking Investments Insurance Source: Internal, ongoing basis. CAGR, Compound Annual Growth Rate, FY05 Cash Earnings $2,118m. 3 * Including other (inc. Asia), Mar06=$1m; Sep06=$(6)m; Mar07=$0m; Sep07=$1m; Mar08=$(2)m; Sep08 $(6)m full year market update Australia Region: Cash earnings by business unit 2008 full year to ($AUDm) % Change 30 Sep 2008 30 Sep 2007 Region Cash Earnings (pre IoRE) 3,328 2,874 15.8% Australia Banking 2,928 2,471 18.5% Business & Private Banking 2,028 1,708 18.7% Retail Banking 900 763 18.0% MLC (pre IoRE) 408 402 1.5% Insurance 195 163 19.6% Investments 213 239 (10.9%) For personal use only 4 Source: Internal, ongoing basis. full year market update Australia Region: Revenue growth maintained, expenses well managed 2008 Revenue and expense trend Seeking sustainable out-performance $m 4,817 X Run existing businesses well 4,395 4,540 4,106 3,912 X Develop new distribution 3,672 3,719 opportunities in High Net Worth Private & Institutional Wealth (PIW) and branchless banking 2,051 2,052 2,025 2,023 2,014 2,036 1,996 (Star Direct & Alliances) X Accelerate Efficiency, Quality & Sep 05 Mar 06 Sep 06 Mar 07 Sep 07 Mar 08 Sep 08 Service (EQS) and Customer Revenue Expenses Experience & Effectiveness (CEE) programs Revenue growth less expense growth X Develop the Next Generation Mar 06 Sep 06 Mar 07 Sep 07 Mar 08 Sep 08 technology platform Revenue/Expense 2.6% 5.3% 5.4% 5.9% 5.3% 3.3% Differential X Invest in people and skills (The Academy) For personal use only 5 Source: Internal, ongoing basis. full year market update National Australia Bank: Is one of the most efficient major banks in the world 2008 Retail & Business Bank Cost to Income (%) Banco Santander 40% Bank of America 41% NAB Australia 42% JP Morgan 42% Wachovia 45% Lloyds BB 45% Westpac 46% CBA 46% ANZ 46% TD Canada 52% RBC 52% HSBC 52% Citibank 52% Wells Fargo 54% Unicredit 54% Credit Agricole 55% CIBC 55% Scotiabank 56% For personal use only Barclays 56% BNP 61% 6 Source: BCG Benchmarking (Data is based on 2007 or 2008 accounts depending on entities end of financial period) full year market update Continuing to invest in the Region 2008 Australia Region investment cash spend $180m $220m $241m $255m $168m $203m 100% 30% 80% 37% 36% 36% 44% 57% 60% 46% 40% 40% 42% 46% 30% 28% 20% 26% 21% 24% 24% 18% 15% 0% Mar 06 Sep 06 Mar 07 Sep 07 Mar 08 Sep 08 Compliance projects Infrastructure projects Efficiency/revenue generating projects X 2008 annual spend of $371m X Spend is skewed to the second half X For personal use only Increasing percentage of portfolio focussed on revenue generation and efficiency related projects 7 Source: Internal, ongoing basis. full year market update Customer service & employee engagement 2008 Customer satisfaction Customer satisfaction Retail Banking* Business & Private Banking** 67% 70% 71% 69% 6.35 6.07 5.61 Sep 05 Sep 06 Sep 07 Sep 08 Nov 07 Apr 08 Sep 08 Employee satisfaction Employee engagement 82% 74% 72% 81% 51% 53% 39% 40% For personal use only Sep 05 Sep 06 Sep 07 Sep 08 Sep 05 Sep 06 Sep 07 Sep 08 Source: *Roy Morgan Research, Base: MFI Pop’n 14 years+, 6 month moving average.
Recommended publications
  • Media Release
    Australian High Commission, Kuala Lumpur MEDIA RELEASE 15 DECEMBER 2017 Deepening Australia’s engagement with the Muslim world – visit to Malaysia by Australia’s Special Envoy to the OIC, Mr Ahmed Fahour AO Australia’s Special Envoy to the Organisation of Islamic Cooperation (OIC), Mr Ahmed Fahour AO, visited Malaysia for a one-day official visit yesterday. Mr Fahour called on Deputy Minister in the Prime Minister’s Department, Dato’ Dr Asyraf Wajdi Dusuki, to discuss Australia’s engagement with the OIC, Islamic banking and finance, as well as key challenges facing the Muslim world. They also shared experiences on countering violent extremism. Mr Fahour was treated to a tour and prayers at Masjid Negara with the Grand Imam, Tan Sri Syaikh Ismail Muhammad. He also had lunch with local experts and commentators, to exchange views on trends in Islam in Australia and Malaysia. A highlight for Mr Fahour was a visit to the “Faith, Fashion, Fusion: Muslim Women’s Style in Australia” exhibition at the Islamic Arts Museum Malaysia, which is being displayed for the first time internationally with the support of the Australian Government and Lendlease Malaysia. Developed by the Museum of Applied Arts and Sciences in Sydney, “Faith, Fashion Fusion” explores the experiences and achievements of Australian Muslim women and how they express their faith through fashion. It also displays Australia’s growing modest fashion market and the work of a new generation of Muslim designers and entrepreneurs. Mr Fahour, who is also the Patron of the Islamic Museum of Australia said, “The exhibition showcases the diversity of Australia’s Muslim communities and the significant contribution they make to Australia’s contemporary, multicultural society.” Mr Fahour welcomed these efforts that help to build understanding and respect between the Islamic community and other faiths and cultures.
    [Show full text]
  • BCA 2012 Annual Review: One Country. Many Voices
    ONE COUNTRY. MANY VOICES. ANNUAL REVIEW 2012 04 OUR MEMBERS 26 OUR ACHIEVEMENTS 08 PRESIDENT’S MESSAGE 28 ONE COUNTRY, MANY VOICES 11 CHIEF EXECUTIVE’S MESSAGE 30 PUBLICATIONS 14 ABOUT US 15 OUR VISION, GOAL AND VALUES 16 HOW WE WORK Cover: Yuyuya Nampitjinpa, 18 OUR STRUCTURE Women’s Ceremony, 2011 © 2012 Yuyuya Nampitjinpa licensed 24 OUR WORK PROGRAM by Aboriginal Artists Agency Limited ONE COUNTRY. MANY VOICES. The Business Council of Australia (BCA) has been talking with people and organisations from different parts of the community. The intention, on all sides, has been simple: to fi nd common ground on goals for achieving national wealth for Australia. Not the fi nancial wealth of a few, but enduring prosperity for all. This means rewarding jobs, a better health and aged care system, world’s best education and training, and quality infrastructure to meet our needs into the future. Choices and opportunities that don’t leave groups of Australians behind. The BCA’s vision is for Australia to be the best place in the world to live, learn, work and do business. Our members bring their collective experience in planning, innovating, leading and inspiring. Working with others to develop interconnected policy responses, we can transcend limited short-term thinking to envision a future we would wish for the generations to follow. It’s time to show that together we’re up for the tough conversations, the planning and the collaboration needed to secure our nation’s enduring prosperity. 3 Our members BCA membership details throughout this review are valid as at 1 October 2012.
    [Show full text]
  • Full Year Results
    /--5 CriiVb^oObpriqp Fk`lomlo^qfkdqebobnrfobjbkqplc>mmbkafu1B K^qflk^i>rpqo^if^?^khIfjfqba>?K./--1-11604%qebÐ@ljm^kvÑ& Qefpcriivb^ovb^oobpriqp^kklrk`bjbkqfk`lomlo^qbpqebmobifjfk^ovÚk^iobmloq^kafpdfsbkql qeb>rpqo^if^kPb`rofqfbpBu`e^kdbIfjfqba%>PU&rkaboIfpqfkdOrib1+0>+ Results for Announcement to the Market Results for announcement to the market Report for the year ended 30 September 2008 30 September 2008 $m (1) Revenue from ordinary activities up 4.7% * to 16,257 Profit after tax from ordinary activities attributable to members of the Company down 0.9% * to 4,536 Net profit attributable to members of the Company down 0.9% * to 4,536 * On previous corresponding period (twelve months ended 30 September 2007). (1) Reported as the sum of the following items from the Group's consolidated income statement: Net interest income, Premium and related revenue, Fee income and Other income. On a cash earnings basis revenue increased by 5.8%. Franked Amount amount Dividends per share per share Final Dividend 97 cents 100% Interim dividend 97 cents 100% Record date for determining entitlements to the final dividend 13 November 2008 Highlights (2) Group cash earnings down 10.7% Cash earnings from ongoing operations of $3,916 million for the September 2008 year decreased by $470 million or 10.7% on the September 2007 year. Underlying profit increased by $996 million or 13.9%. This reflects good revenue growth stemming from the Group's market leading position in business banking in Australia, successful repricing initiatives in all regions and strong performance in nabCapital's Markets business. A disciplined approach to cost management has been maintained however, cash earnings have been reduced by a higher bad and doubtful debts charge mainly relating to Asset Backed Securities Collateralised Debt Obligations in nabCapital.
    [Show full text]
  • 'Rogue Bankers'
    Australian Bankers‘ Problematic code 1 THE AUSTRALIAN BANKERS’ PROBLEMATIC CODE Part 3b: Report to Council of Small Business Organisations of Australia Dated 5 December 2010 Australian Bankers‘ Problematic code 2 EXECUTIVE SUMMARY The Fairness of Bank / Customer Relationships in Australia This report examines, and makes recommendations in respect of, the extent to which customers of Australian banks are assured of fair treatment and full disclosure of facts that are relevant to their transactions. Before 1981, the activities of Australian Banks, including the manner in which they dealt with their customers, were subject to detailed regulations imposed by the Federal Government. Following the 1981 Campbell Committee report, the extent of this regulation was significantly reduced. After the stock market crash in 1987, it was feared that deregulation had gone too far. An alternative approach was sought to ensure that bank customers received fair treatment, and the Government assigned responsibility for suitable recommendations to a committee chaired by Stephen Martin. In its 1991 report the Martin Committee concluded that the banks should be required to establish a formal system of self regulation based on a government approved Code of Banking Practice. It further cited the high cost of resolving disputes, in the courts, between banks and their customers; and stressed the importance of an effective, low cost, complaints resolution procedure. Australian Bankers‘ Problematic code 3 The first such Code of Practice was established in 1993 but not adopted until 1996. It was substantially revised in 2003, and further modified in 2004. Despite a review in 2005 and further reviews in 2008, the 2004 code is essentially still in force.
    [Show full text]
  • Australia Post Business Case
    QUT BlueShift Business Case Competition Business Case: Australia Post Contents Overview ................................................................................................................................................. 2 Digital disruption and the decline of traditional mail ..................................................................... 2 The politics of privatisation ............................................................................................................. 5 Moving forward .............................................................................................................................. 5 Brief for consulting firms ........................................................................................................................ 6 Scope ............................................................................................................................................... 6 Appendices .............................................................................................................................................. 7 Appendix A – Australia Post Annual Report 2014 ................................................................................... 7 Appendix B – More mail-outs: Federal election drives revenue growth over current year ........... 8 Appendix C – IBISWorld Industry Risk Rating Report: Postal Services in Australia ........................ 9 Appendix D – Australian and International Postal Services Overview Background Report ......... 10 BlueShift Business
    [Show full text]
  • The Executive's Guide to Navigating Digital Disruption
    The Executive’s Guide to Navigating Digital Disruption Wisdom from the iTnews ACS CXO challenge Foreword FROM THE ACS. hat a difference a little over a year ecosystem develops, momentum will grow and can make? ultimately benefit all Australians, both within business When the CXO Challenge kicked and our communities. W off in June 2014, the Australian The CXO Challenge has been an invaluable research dollar was at US94c. Fast forward piece, providing extraordinary insight into technology to August 2015 and our currency is at US74c - yet a leaders from across the ASX 200 and how they have mini-economic boom hasn’t eventuated. embraced digital disruption to enhance their business Most notably, Iron Ore was over $90 USD/tonne models and develop new revenue streams. twelve months ago and now is just over $50 USD/ Highlighting that value creation is an individual tonne. The cycle of capital investment in the resources journey, approaches vary throughout the Challenge sector is drawing to an end, moving to production. such as TabCorp bringing digital back in-house, Telstra’s This is a perfect storm for our technology leaders. focus on ecosystem development, how ANZ considers Necessity is the mother of invention, and Australia analytics and automation will deliver a digital edge has some challenges to overcome in terms of revenue in the provision of advice as a service and tracking generation and tax receipts in order to maintain our systems being deployed by Domino’s to empower their historically high standards of living. customers. Industries were already experiencing digital Some themes are constant however such disruption, however over the last six months the as seeking ways to deliver best of breed digital political and economic landscapes have caught up and user experiences so that customers self-manage, recognised the importance of this disruption.
    [Show full text]
  • National Australia Bank 800 Bourke Street Docklands Vic 3008 Tel: 61 3 8634 1587 Fax: 61 3 8634 3625
    SUBMISSION 31 Executive Director & Chief Executive Officer Australia National Australia Bank 800 Bourke Street Docklands Vic 3008 Tel: 61 3 8634 1587 Fax: 61 3 8634 3625 18 July 2008 The Hon Craig Thomson MP Committee Chair Standing Committee on Economics PO Box 6021 House of Representatives Parliament House CANBERRA ACT 2600 [email protected] Dear Mr Thomson Inquiry into competition in the banking and non banking sectors National Australia Bank (NAB) welcomes the opportunity to respond to this Inquiry. National Australia Group is an international financial services organization that provides a comprehensive and integrated range of financial products and services. The Group is structured around regional retail banking and wealth management operations and an international capital markets and institutional banking business. The Group’s businesses include: the National Australia Bank (NAB), MLC, the Bank of New Zealand, Great Western Bank in the United States and nabCapital. NAB has also contributed to and supports the Australian Bankers’ Association (ABA) submission, which provides a comprehensive overview of Australia’s retail banking sector and the issues relevant to competition. NAB’s retail bank employs around 11,000 people in all States and Territories across Australia. We offer our 3.3 million customers a wide variety of banking options, including almost 800 stores, internet and telephone banking, ATMs and mobile bankers. We continue to develop new banking channels that use next generation technologies to help customers bank from the comfort of their home or office. We have grouped our comments around the Committee’s terms of reference, highlighting the issues we consider as relevant to competition in retail banking.
    [Show full text]
  • BUSINESS MAILERS REVIEW Monitoring the Postal Service, Private Carriers and Suppliers Published by PNMSI Publishing Co
    BUSINESS MAILERS REVIEW Monitoring the Postal Service, Private Carriers and Suppliers Published by PNMSI Publishing Co. Volume 38, Number 6 March 13, 2017 Stamping Out Ballot “Loss” with Truth In the days preceding and during the aftermath Ohio NBC affiliate NBC26 checked the facts, too. of the 2016 presidential election, candidate and then It reported: “The USPS also investigated the tweets and president-elect Donald Trump made noise about postal said there have been no cases of absentee ballots being employees having dumped ballots in support of his destroyed in Ohio and officials do not believe ‘@randy candidacy. The accusations elicited responsive rhetoric gdub’ is a real postal worker.” http://www.nbc 26.com/ that further heated collars around the D.C. Beltway. news/national/usps-says-ohio-postal-workers-are-not- An account of a rally in Golden, Colo. held in destroying-trump-absentee-ballots-after-tweet-goes- October, claims candidate Trump said: viral. “I have real problems with ballots being sent. Does The truth is that the Postal Service delivers votes that make sense? Like people saying, ‘Oh, here’s a for the citizenry even when they neglect to place postage ballot. Here’s another ballot. Throw it away. Oh, on their ballots. That’s right. If a voter forgets to put a here’s one I like. We’ll keep that one. I have real stamp or the right amount of postage on a ballot, a mail problems, so get your ballots in.’ Trump also accused carrier will still deliver it. election officials of throwing away ballots, as his rally “The U.S.
    [Show full text]
  • Citigroup Annual Report 2001
    91925-AR-no10K-nospread 3/13/02 10:25 AM Page 1 fg63786 DISK1:Desktop Folder: 2001 ANNUAL REPORT This is Citigroup 91925-AR-no10K-nospread 3/13/02 10:25 AM Page 2 fg63786 DISK1:Desktop Folder: WE ARE AN ECONOMIC WE VALUE A WORKPLACE WE VALUE PEOPLE WHO… WE ASPIRE TO BE ENTERPRISE WITH… WHERE… KNOWN AS… take the company personally. a relentless focus on growth, bureaucracy is discouraged, They care about each other, the a company with the highest aiming to increase earnings by entrepreneurial thinking is fos- quality of our products and serv- standards of moral and ethical double digits on average. tered and decision-making is ices, and above all, their value to conduct—working to earn streamlined by an “open-door” our customers and shareholders. client trust, day in and day a global orientation, but with management style. out. Our word is our bond. deep local roots in every market are committed to a strong work where we operate. diversity is embraced, particularly ethic and are constantly striving to the leader in global financial in light of our globality. excel in serving their customers. services, with market leadership a highly diversified base of in every one of our major activi- earnings that enables us to employees think and act like are more interested in teamwork ties, and one of the great prosper under difficult market owners because they ARE owners. than in internal politics. companies in the world. conditions. mistakes are tolerated, admitted lead by example, giving credit to a company where the best capital employed in higher- and addressed before they become others for success and assuming people want to work, and the margin businesses, each one of real problems.
    [Show full text]
  • Prospectus Prospectus
    LATITUDE FINANCIAL GROUP LIMITED PROSPECTUS PROSPECTUS LATITUDE FINANCIAL GROUP LIMITED ACN 625 845 883 Joint Lead Managers Important Notice Offer repayment of capital by the Company or Financial Information Presentation This Prospectus is issued by Latitude the payment of a return on the Shares. Section 4 sets out in detail the financial Financial Group Limited ACN 625 845 883 information referred to in this Prospectus. (‘Company’) and Latitude SaleCo Limited Exposure Period The basis of preparation is set out in ACN 625 845 874 (‘SaleCo’) for the purposes The Corporations Act prohibits the Section 4. The Financial Information of Part 6D of the Corporations Act 2001 (Cth) Company from processing applications to has been prepared and presented in (‘Corporations Act’). The offer contained in subscribe for Shares under this Prospectus accordance with the recognition and this Prospectus is an initial public offering (‘Applications’) in the seven-day period after measurement principles of IFRS, as issued to acquire fully paid ordinary shares (‘Shares’) the date of lodgement of this Prospectus by the IASB, as outlined in Section 4.2.2. in the capital of the Company (‘Offer’). with ASIC (‘Exposure Period’). All financial amounts contained in this Lodgement and Listing The Exposure Period may be extended Prospectus are expressed in Australian by ASIC by up to a further seven days. dollars and rounded to the nearest This Prospectus is dated 26 September 2019 The Exposure Period is to enable this $0.1 million unless otherwise stated. (‘Prospectus Date’) and was lodged with Prospectus to be examined by market Any discrepancies between totals and the Australian Securities and Investments participants prior to the raising of sums of components in the charts, Commission (‘ASIC’) and the New Zealand funds.
    [Show full text]
  • A Critical Sociological Inquiry Into the Aboriginal Art Phenomenon
    Hope, Ethics and Disenchantment: a critical sociological inquiry into the Aboriginal art phenomenon by Laura Fisher A thesis submitted in fulfilment of the requirements for the degree of PhD (Sociology) University of NSW 2012 ii PLEASE TYPE THE UNIVERSITY OF NEW SOUTH WALES Thesis/Dissertation Sheet Surname or Family name: Fisher First name: Laura Other name/s: Abbreviation for degree as given in the University calendar: PhD (Sociology) School: Social Sciences and International Studies Faculty: Faculty of Arts & Social Sciences Title: Hope, Ethics and Disenchantment: a critical sociological inquiry into the Aboriginal art phenomenon Abstract 350 words maximum: (PLEASE TYPE) Aboriginal and Torres Strait Islander Art art has come to occupy a significant space in the Australian cultural landscape. It has also achieved international recognition as one of the most interesting aesthetic movements of recent decades and has become highly valuable within the art market. Yet there is much that remains obscure about Aboriginal art. It seems at once unstoppable and precarious: an effervescent cultural renaissance that is highly vulnerable to malign forces. This thesis brings a critical sociological perspective to bear upon the unruly character of the Aboriginal art phenomenon. It adopts a reflexive and interdisciplinary approach that brings into dialogue scholarship from several fields, including anthropology of art, art history and criticism, post-colonial critique, sociology of art and culture, theories of modernity, theories of cross-cultural brokerage and Australian political history. By taking this approach, the thesis is able to illuminate the intellectual and aesthetic practices, social movements and political events that have been constitutive of Aboriginal art‟s meaning and value from the late 19th Century to the present.
    [Show full text]
  • FCIC\Tempintern
    CONFIDENTIAL FEDERAL RESERVE BANK OF NEW YORK NEW YORK, N.Y. 10045-0001 AREA CODE 212-72(1 - ~ July 29, 2003 Ms. Michelle Sims Board of Governors of the Federal Reserve System Division of Banking Supervision and Regulation Surveillance Section Mail Stop 198 Washington, DC 20551 Dear Ms . Sims: Enclosed are two copies of the following report conducted by examiners for the Federal Reserve Bank of New York: Name Start Date Citigroup Inc. February 3, 2003 Please acknowledge receipt of these encl osures by signing and returning the attached copy of this letter in the envelope provided. Sincerely, Frank P. Sabato Staff Leader Bank Supervision Enclosures FCIC-087396 CONFIDENTIAL , RESTRICTED FR • • • • Copy lor • B.. rd oIGev_on 01111. Federal ROlon, System SUMMARY OF SUPERVISO ACTIVITY AND FINDING Name: CITIGROUP INC. Period Covered: JANUARY I, 2002- DECEMBER 31, 2002 Location: NEW YORK. NEW YORK RSSD IO Number: _1:;9"'5.:;13::5<):::... ___________ Start Date: FEBRUARY 3. 2003 THIS DOCUMENT IS STRICTLY CONFIDENTIAL Tbb_,ummary h~ been prepared by aD euml.Der ~lected directon, omeen, employees,. trustees or Independeat Of. appointed by the Board ot_Govemon 0rtbe:Federal audlton dlJc:Jose or make publk tbb summary or any R... rv, SyJlem. Th~ su~m.ry II the property_, oUbe Board portion thel'fllf except In acco(dance wltb applkable law aod or:Goveraon and b ru~libed to-dlredon and-mali:,..ement the t'tIulatlonl of the Board of Gonmors. Any ror their conftd.ntlal we. The lummary:- iI:' strictly unauthorized dllc:loIIare of the summary may .ubJect the prlvlJeaed and coDftd.ntlal under applicable law; -and the penon or penonl dlseloJina: or rec:eJvina .uch loformadon to Board of Governors hll forbidden Itt dlseJOIure In any the penalties of Settlon 641 of the U.s.
    [Show full text]