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Connexus : Issue 38
A revealing new survey of 45 chief executives of mutuals across the nation is at once cause for optimism about the sector’s future and a reality check of the challenges it faces. abacus conducted the survey to examine the opportunities, threats and major strategic tests that mutual banking organisations are likely to confront in the coming year. It could be said that its findings bring to mind the classic Clint Eastwood western The Good, the Bad and the Ugly. The good: members’ satisfaction w ith the trusted people who work for their mutual. The bad: fears that mutuals may not be able to capitalise on new market opportunities to take on the less than popular big banks. The ugly: concerns that regulatory interventions could hinder banking competition in australia. The CEOs prov ided frank insights. Some won’t come as a surprise. For example, they expect more industry mergers, and most favour ramping up marketing efforts to better sell the merits of mutuals to the australian public. The threats and challenges mutuals face, and how they might outdraw them, is made plain in a survey of CEOs. By Cameron Cooper What think CEOs rEally 26 www.abacus.org.au 26 Connexus FEATURE CEO SURVEY www.abacus.org.au