Coles keen to join the financial services club

 In Australia, Coles, NewZealand
​Coles is considering becoming a member of the powerful Financial Services Council, giving it a seat at the table among the nation’s leading wealth managers just as the supermarket giant gathers momentum for its own aggressive push into the financial services sector.oles is considering becoming a member of the powerful Financial Services Council, giving it a seat at the table among the nation’s leading wealth managers just as the supermarket giant gathers momentum for its own aggressive push into the financial services sector.

n

The supermarket group has begun talks with the Financial Services Council, run by former New South Wales opposition leader John Brogden. It’s keen to plug into the lobby group’s deep network of members and gain access to its insights into Australia’s trillion dollar finance sector, Fairfax Media has learned.

n

If Coles were to eventually sign up as a member of the council it would become the first pure retailer to join its ranks, with the 125 existing members drawn exclusively from the insurance, funds management, trustees, financial planning and superannuation sectors.

n

“Coles has spoken to the Financial Services Council about potential membership but has not as yet made a decision on applying to join,’’ a Coles spokesman confirmed.

n

The move by Coles dove-tails with its wider strategy of pushing into the sector by offering its supermarket customers a growing range of financial products. Sydney Morning Herald – Read more…

n

 

Recent Posts

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.