The Capital Partners Project is hosting a series of expert-led webinars, designed to provide an in-depth appreciation of the issues outlined.

Whether you have already decided to issue mutual capital instruments (MCI), or co-operative capital units (CCUs) or are at the stage of considering your options, the program will provide valuable insights for your business:

Legal, constitutional & membership issues


Constitutional and legal considerations for issuing MCI or CCU


Making your mutual constitution MCI or CCU -ready


Designing bespoke MCI


Collective structures for issuing mutual capital 


MCI and taxation


Member engagement and management

Relating MCI to your business strategy


How to decide whether to issue MCI or CCU


Retail or wholesale? Which MCI is for you?


Member engagement and communications


MCI - International experience case studies – Mutual capital issuers


MCI - International experience case studies – A Regulator’s perspective


CCU - Australian experience case studies



Designing Impact Investments: Environmental, Social and Governance (ESG) compliant MCI/CCU


Leveraging the impact of your mutual status


ESG and credit ratings

Market issues for MCI


Making your co-operative or mutual investment-ready


Presenting your business to wholesale investors


Preparing to roadshow

Approaching the retail market

Insights into accessing international investment markets


Managing liquidity through a listing


Credit ratings for mutuals

Next Capital Partners EVENTS

More webinars and interviews coming soon.

BCCM members are entitled to access this program free of charge.
Please contact BCCM to register for upcoming events and gain access to Partners Home.

Global Mutual Leaders’ Symposium

    2021 BCCM Capital Symposium

    Wednesday, 8 September 2021, 5:30 pm - 9:00 pm AEST, Online

    The Global Mutual Leaders’ Symposium brought together mutual business leaders from Australia and the UK, to share their experience of leading major mutual businesses and will focus on how CME purpose creates sustainability and how this fits the expectations of global investors. 

    Browse photo gallery.

    Past Interviews

      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.

      Martin Stewart

      Interview: Martin Stewart, Ex Director, Bank of England

      Peter Hunt talks global economics with Martin Stewart. Following an executive career in mutual banking, Martin held senior positions at the Bank of England’s Prudential Regulation Authority and the UK’s Financial Services Authority. He was a key influencer on global financial services policy development post the financial crisis, with special responsibility for co-operatives and mutuals.

      Peter Burrows

      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.

      Colin Melvin

      Interview: Colin Melvin, Managing Director, Arkadiko Partners

      Colin is a pioneer of impact investing.  He has been at the forefront of global developments in corporate stewardship, sustainability and responsible asset management for over twenty years. We talk to him about his views on the potential for ESG investment.

        Peter Burrows


        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.

        Peter Burrows

        Interview with Simon Nuttall and Barry Clavin, The Co-operative Group

        The UK Co-operative Group raised £300 million in sustainability bonds. In this interview, Peter Hunt is joined by two of the Co-operative Group’s sustainability and investment experts - Simon Nuttall, Head of Tax, Treasury and Insurance and Barry Clavin, Head of Ethics and Sustainable Reporting. The three talk investment, sustainability and living your values as a business.


        BCCM members are entitled to access these interviews free of charge.
        Please contact BCCM to access the Members' Only resources.

        2022 WEBINARS

          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.

          2021 WEBINARS

            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.

            Towards an ASX listing: Practical issues to consider when seeking to raise capital from listing Mutual Capital Instruments

            Wednesday, 3 March, 5 pm AEDT

            In this webinar, Ken Chapman, Head of Strategic Delivery, Capital Markets and Kimberley Brown, Principal Adviser, Listing Compliance, both from ASX, provides an overview of the ASX listing requirements and what mutual organisations need to consider when seeking to list MCIs.

            This webinar provides practical advice and information on how to become ‘listing ready’.

            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.

            Co-op registry management – for member engagement and investment-readiness

            Friday, 29 October 2021, 11:30 am - 12:30 pm AEST

            A one hour webinar covering the role of digital registry management in engaging members and raising and managing capital in co-ops. The webinar included case studies from the Co-operative Farming pilot project and NZ co-ops. Experienced share registry provider Syndex and the BCCM launched their new partnership aimed at supporting Australian CMEs member and share registry functions.

            2020 WEBINARS


              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


              Wednesday, 15 July 2020, 2 - 3:30 pm

              Led by Matt A Price, Director, Financial Institutions Group, National Australia Bank

              The decision whether to issue Mutual Capital Instruments (MCI) or Co-operative Capital Units (CCUs) will be a key part of a mutual’s overall business strategy. Led by capital management and capital market experts from National Australia Bank, this seminar explored how MCI and CCU can be factored into your existing strategic decision making.

              It considered some of the practical questions related to the potential markets for new instruments.

              Relating MCIs/CCUs to business strategy – including:

              Capital structuring 101 – overview of different capital types and structures

              Capital planning and how MCI/CCUs can play a role

                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.

                Credit ratings and capital markets

                Thursday, 20 August, 4 – 5:30 pm AEST

                Led by Daniel Yu, Vice President - Senior Analyst, Financial Institutions at Moody’s

                Access to capital is becoming increasingly important for Australian mutual banks, with the sector’s historically strong capitalisation under pressure from rising credit losses and risk-weighted densities. Meanwhile, technological developments are driving a structural shift in customer demand for digital services and products, with new entrants competing for market share. Intensifying competition will lead the mutuals to increase their spending on technology, and in turn pressure net interest margins and weaken their ability to generate sufficient capital organically.
                Join Daniel as he explains Moody’s approach to rating mutuals as well as credit consideration for mutual capital instruments (MCIs), and how the sector’s strengths and weakness are reflecting in ratings.

                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.

                Mutual entities and fundraising - Understanding the regulatory framework

                Wednesday, 30 September, 4 - 5:30 pm AEST

                Led by Claire LaBouchardiere,  Senior Executive Leader, Corporations and Fiona Laidlaw Senior Specialist, Corporations, from the Australian Securities and Investments Commission (ASIC) 

                Firms considering issuing mutual capital instruments will wish to weigh up the option of a retail offering to members and beyond, to the general public.

                This webinar, led by Claire LaBouchardiere and Fiona Laidlaw will describe the regulatory environment for retail share issues.

                They will outline ASIC’s rules for share offers and the expectations that firms will need to meet.

                 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

                Project managing a share issuance

                Wednesday, 28 October, 4 – 5:30 pm AEST

                Led by Alison McGuire, Link Group

                This webinar will examine how to project manage a share issuance.  It will cover how to prepare a prospectus and communicate your offer, manage the transaction, maintain member communications and systems management before looking at ongoing registry management and investor relations.

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