Interview: Greg Hammond OAM

Peter Hunt sat down with Greg Hammond OAM for our first interview in the Capital Partners’ series. In a wide-ranging conversation covering Greg’s Independent Review into reforms for co-ops and mutuals and his career as a senior lawyer, Peter and Greg discussed the potential for new capital to change the face of the mutual sector.

Interview: Peter Burrows, CEO, Cambridge Building Society, UK

Peter Hunt speaks with Peter Burrows, CEO, Cambridge Building Society, UK about his experience of attracting a placement investment to his mutual.

INTERVIEW WITH HILDE VERNAILLEN, CEO OF GROUPE P&V, BELGIUM

Hilde is a leading mutual business leader in Europe, and currently Chair of ICMIF, the global representative body for co-operative and mutual insurers.  In this interview, we discuss Covid, co-operation and capital raising, as well as collect some tips for a successful career for mutual leaders.

Capital raising for co-operatives webinar

Thursday, 10 March 2022, 11:30 am - 12:30 pm AEDT, Online

A one hour webinar covering:

Capital raising for co-operatives

Case studies from Australian and NZ co-ops with experienced share registry provider Syndex.

The first issuance of MCIs – with Australian Unity

Wednesday, 3 February 2021, 5 pm AEDT

with Rohan Mead, Group Managing Director and CEO, Australian Unity; Adam Vise, Group Treasurer, Finance & Strategy, Australian Unity; Esther Kerr-Smith, CEO Wealth & Capital Markets, Australian Unity; and Damian Pretty, Director, Acacia Partners

On 4 January, the first Mutual Capital Instruments (MCIs) began trading on the ASX. This marked the culmination of several years’ work by BCCM members who drove the advocacy for enabling legislation, as well as the pioneering efforts of Australian Unity to initiate this inaugural capital raise.

Rohan Mead, Group Managing Director and CEO of Australian Unity, joined by members of his team, provides first hand insights into the decisions and steps taken by Australian Unity to bring the first offer of mutual capital to market. Facilitated by Peter Hunt (Mutuo), the webinar describes the challenges overcome in the process and offer tips for others considering issuing MCI and offer the opportunity for Q&A.

Demutualisation – do we need to prepare for a new wave?

Wednesday, 19 May 2021, 4 pm AEST

with Peter Hunt, Mutuo

Peter Hunt will outline the events unfolding in the UK and offer an analysis of the factors driving this. The session will consider the legislative and political environment affecting the sector and how CMEs can prepare themselves to protect their capital assets. Read the synopsis of this issue: Demutualisation is bad for members, for competition and choice and for market stability.

CONSTITUTIONAL AND LEGAL ISSUES FOR MUTUAL CAPITAL INSTRUMENTS

Tuesday, 7 July 2020, 2 - 3:30 pm

Led by Jo Dodd, Partner at King & Wood Mallesons

The first handful of mutuals have now amended their constitutions to give themselves the option to issue MCI in the future.  The 36-month window to complete this under the special ASIC procedure now has less than two years left.

The webinar covered what constitutional amendments are needed to make your mutual ‘MCI-ready,’ what options you have to tailor the changes to suit your own circumstances and hear how to present these changes to your members, for the best chance of success.

This seminar considered:

Constitutional requirements under the Act

Options to match your culture, history and likely use of MCI

Early ideas for designing instruments

An introduction to Mutual Capital Instruments

Friday, 24 July 2020

Led by Peter Hunt, Managing Partner, Mutuo

This briefing provides an opportunity to hear about Mutual Capital Instruments in a way that sets this development in context and gives you the information you need to understand what MCI are, and how they are likely to work.

The presentation is set out in eight sections, which lead you through the story of MCI and how they can help to improve the business environment for mutuals. We examine how they actually work, and the sort of thought process that you might apply if you are considering issuing. We then look at some international examples of mutuals that have issued this type of capital already. We briefly describe what the legal changes mean for your mutual and talk about how best you might approach communicating these constitutional changes to your members. Then we will look at the options for different types of MCI and finally say a few things on the potential market for MCI.

Assessing Investment Options and the Suitability of MCIs and CCUs

Thursday, 27 August 4 – 5:30 pm AEST

Led by Rade Musulin, Jon Tindall, Sen Nagarajan from Finity Consulting

Prior to undertaking an issue of Mutual Capital Instruments (MCIs) or Co-operative Capital Units (CCUs), mutual organisations need to assess their suitability relative to other funding options.

In this webinar Rade Musulin, Jon Tindall, and Sen Nagarajan from Finity Consulting walk through factors organisations should consider such as valuing members’ benefit from investment opportunities, balancing member equity, risk management, and assessing/ranking available funding options.  In addition, Finity will outline the type of financial projections and scenario analysis that mutual organisations should consider as part of assessing whether MCIs and CCUs are suitable and to facilitate the engagement of all stakeholders.

 The power of balance – retail vs wholesale markets

Wednesday, 7 October, 4 – 5:30 pm AEST

Led by Steven Wright, Executive Director, Fixed Interest and Philip Lee, Executive Director, Corporate Finance at Morgans Stockbrokers and Wealth Managers

This webinar will examine how mutuals and co-ops can approach fundraising markets.

Steven and Philip will consider a range of issues for firms considering issuing new capital:

Defining your potential investors

The concept of balance – wholesale vs retail

Investor education

A balanced investor register

Target investors and examples

Aftermarket – support and success