Australasian Banking
Four banks dominate the entirety of banking within Australia and New Zealand.
These competing corporations have recorded some of their highest profits ever since the Global Financial crisis began.
Who are the powers actually behind the banks themselves?
Top 4 NAB Shareholders
Name of Shareholder
|
% of Shares
| |
1
|
HSBC Custody Nominees (Australia)
|
16.93
|
2
|
J P Morgan Nominees (Australia)
|
13.63
|
3
|
National Nominees *
|
12.07
|
4
|
Citicorp Nominees Pty
|
5.59
|
total
|
48.22%
|
A Nominee is a shareholder who holds shares on behalf
of others although they hold all voting rights as if they were the final shareholder themselves. National Nominees is the subsidiary
investment wing of National Australia Bank itself. The external major shareholders with
influence are therefore HSBC, J P Morgan and Citigroup.
Top 4 ANZ Shareholders
Name of Shareholder
|
% of Shares
| |
1
|
HSBC Custody Nominees (Australia)
|
17.77
|
2
|
J P Morgan Nominees (Australia)
|
13.22
|
3
|
National Nominees
|
13.54
|
4
|
Citicorp Nominees Pty
|
5.59
|
total
|
50.12 %
|
Top 4 CBA Shareholders
Name of Shareholder
|
% of Shares
| |
1
|
HSBC Custody Nominees (Australia)
|
12.81
|
2
|
J P Morgan Nominees (Australia)
|
10.65
|
3
|
National Nominees
|
8.46
|
4
|
Citicorp Nominees Pty
|
4.35
|
total
|
36.72%
|
Top 4 WBC Shareholders
Name of Shareholder
|
% of Shares
| |
1
|
HSBC Custody Nominees (Australia)
|
15.10
|
2
|
J P Morgan Nominees (Australia)
|
12.27
|
3
|
National Nominees
|
10.65
|
4
|
Citicorp Nominees Pty
|
4.60
|
total
|
42.62 %
|
· National Nominees Ltd is a wholly owned subsidiary of National Australia Bank
All of the major “competing” Australasian banks are controlled by exactly the same organisations!
The same companies also control Australia’s the financial services / insurance firm AMP…
Name
|
Number of shares
|
% of capital
|
HSBC Nominees (Australia)
|
529,111,259
|
18.54
|
National Nominees
|
355,016,116
|
12.45
|
J P Morgan Nominees (Australia)
|
350,827,257
|
12.30
|
Citicorp Nominees Pty
|
101,197,689
|
3.54
|
J P Morgan Nominees (Australia) <Cash Inc.>
|
45,155,484
|
1.58
|
Citicorp Nominees Pty <Colonial>
|
30,356,974
|
1.06
|
Combined total
|
49.47 %
| |
… and it’s major competitor QBE!
Name
|
Number of shares
|
% of capital
|
HSBC Nominees (Australia)
|
366,282,151
|
32.83
|
National Nominees
|
159,359,805
|
14.29
|
J P Morgan Nominees (Australia)
|
146,145,720
|
13.10
|
Citicorp Nominees Pty
|
52,970,949
|
4.75
|
Cogent Nominees Pty Limited
|
16,370,133
|
1.47
|
J P Morgan Nominees (Australia)
|
12,755,198
|
1.14
|
Combined total
|
66.11%
| |
What about Australian Energy?
The top four shareholders from the Power Company AGL…
Name
|
Number of shares
|
% of capital
|
HSBC Nominees (Australia)
|
61,829,083
|
13.40
|
J P Morgan Nominees (Australia)
|
51,548,644
|
11.17
|
National Nominees
|
43,104,612
|
9.34
|
Citicorp Nominees Pty
|
19,279,265
|
4.18
|
total
|
38.09%
| |
…are the same top four shareholders of its competitor Origin Energy!
Name
|
Number of shares
|
% of capital
|
HSBC Nominees (Australia)
|
168,606,383
|
15.83
|
J P Morgan Nominees (Australia)
|
150,165,317
|
14.10
|
National Nominees
|
128,729,380
|
12.09
|
Citicorp Nominees Pty
|
55,021,031
|
5.17
|
total
|
47.19
| |
The same people control Australia’s energy sector!
The table below lists the largest shareholders behind the mining giant BHPBilliton…
Name
|
Number of shares
|
% of capital
|
HSBC Nominees (Australia)
|
557,639,660
|
17.36
|
J P Morgan Nominees (Australia)
|
367,083,996
|
11.43
|
National Nominees
|
322,837,804
|
10.05
|
Citicorp Nominees Pty
|
211,082,608
|
6.59
|
Citicorp Nominees Pty
|
134,103,375
|
4.18
|
Australian Mutual Provident Society
|
78,570,157
|
2.45
|
J P Morgan Nominees (Australia)
|
59,699,015
|
1.86
|
Citicorp Nominees Pty
|
21,495,590
|
0.67
|
Combined total
|
52.14 %
| |
…the same group control Newcrest (the largest gold producer)
Name
|
Number of shares
|
% of capital
|
HSBC Nominees (Australia)
|
317,094,875
|
41.45
|
National Nominees
|
183,362,999
|
23.97
|
J P Morgan Nominees (Australia)
|
101,551,538
|
13.27
|
Citicorp Nominees Pty
|
44,384,432
|
5.80
|
J P Morgan Nominees (Australia)
|
13,223,543
|
1.73
|
total
|
86.22%
|
|
What about Australian Supermarkets & Retail?
Name
|
Number of shares
|
% of capital
|
HSBC Nominees (Australia)
|
159,579,970
|
15.87
|
J P Morgan Nominees (Australia)
|
138,945,946
|
13.81
|
National Nominees
|
78,567,051
|
7.81
|
Citicorp Nominees Pty
|
42,472,716
|
4.22
|
total
|
41.71%
| |
Who then controls Woolworths (the competition of Coles)?
Name
|
Number of shares
|
% of capital
|
HSBC Nominees (Australia)
|
195,061,469
|
15.99
|
J P Morgan Nominees (Australia)
|
132,467,775
|
10.86
|
National Nominees
|
118,834,158
|
9.74
|
Citicorp Nominees Pty
|
42,696,802
|
3.50
|
total
|
40.09%
| |
And the retail giant Westfield…
Name
|
Number of shares
|
% of capital
|
HSBC Nominees (Australia)
|
725,987,840
|
31.44
|
J P Morgan Nominees (Australia)
|
486,309,701
|
21.06
|
National Nominees
|
292,399,136
|
12.66
|
Cordera Holdings
|
145,835,168
|
6.32
|
Citicorp Nominees Pty
|
101,373,183
|
4.39
|
Citicorp Nominees Pty
|
60,648,688
|
2.63
|
AMP Lite
|
42,823,161
|
1.85
|
J P Morgan Nominees (Australia)
|
23,903,097
|
1.04
|
Combined total
|
73.22%
| |
What about Telecommunications?
Who controls Telstra?
Name
|
Number of shares
|
% of capital
|
HSBC Nominees (Australia)
|
2,242,315,037
|
18.02%
|
National Nominees
|
1,711,690,352
|
13.76%
|
J P Morgan Nominees (Australia)
|
1,504,480,902
|
12.09%
|
Citicorp Nominees Pty
|
492,416,447
|
3.96%
|
total
|
47.83%
|
|
How about our national Air Carrier?
Who holds control over
Qantas?
Name
|
Number of shares
|
% of capital
|
J P Morgan Nominees (Australia)
|
514,714,244
|
22.72
|
HSBC Nominees (Australia)
|
428,322,920
|
18.91
|
National Nominees
|
413,707,968
|
18.26
|
Citicorp Nominees Pty
|
253,053,991
|
11.17
|
total
|
71.06%
|
|
The same people control Australia’s banking, mining, energy, retail, food, telecommunications and transport!
If so many of the key services in Australia are controlled by such a small group
…who are their shareholders?
Top 4 - J.P. Morgan Shareholders
Name of Shareholder
|
Value (USD)
| |
1
|
Vanguard Group
|
7,303,697,789
|
2
|
State Street Corporation
|
7,139,549,603
|
3
|
FMR (Fidelity)
|
6,457,001,287
|
4
|
Blackrock
|
4,728,787,075
|
Top 4 - Citigroup Shareholders
Name of Shareholder
|
Value (USD)
| |
1
|
Vanguard Group
|
4,310,489,783
|
2
|
State Street Corporation
|
4,035,335,791
|
3
|
FMR (Fidelity)
|
3,254,388,461
|
4
|
Blackrock
|
2,796,788,858
|
The shareholders of J.P. Morgan & Citigroup are the same!
Vanguard, State Street Corporation, Fidelity and Blackrock are the top shareholders in both Citigroup and J.P. Morgan. When combined with four smaller wealth management firms (Wellington Management, Capital Investors, Oppenheimer Funds and Dodge & Cox), this group of eight seem to dominate or control almost every major Western corporation!
They control the Investment Banks:
Goldman Sachs
|
29.44%
|
Citigroup
|
24.14%
|
Wells Fargo
|
27.93%
|
Bank of America
|
22.66%
|
JPMorgan Chase
|
25.07%
|
Morgan Stanley
|
20.07%
|
The Credit Rating firms (that evaluate the banks):
McGraw-Hill
(Standard & Poor’s)
|
46.73%
|
Moody’s
|
25.95%
|
The Media
Time Warner
|
38.95%
|
The Walt Disney Company
|
23.93%
|
News Corporation
|
22.57%
|
Defence & Armaments
Lockheed Martin
|
49.24%
|
General Dynamics
|
31.83%
|
Boeing
|
24.27%
|
General Electric
|
18.65%
|
Northrop Grumman
|
31.99%
|
Raytheon
|
26.59%
|
Halliburton
|
22.18%
|
SAIC
|
31.87%
|
Fast Food
Coca-Cola Company
|
18.15%
|
PepsiCo
|
20.88%
|
McDonalds
|
27.89%
|
Yum (KFC & Pizza Hutt)
|
23.01%
|
Computers & Communication
Microsoft
|
22.39%
|
Apple
|
25.34%
|
Google
|
19.88%
|
HP
|
30.02%
|
IBM
|
20.04%
|
Dell
|
21.43%
|
AT & T
|
19.87%
| ||
Electronic Arts (EA)
|
27.38%
|
Activision Blizzard
|
15.57%
|
Energy
Exxon Mobil
|
17.85%
|
Chevron
|
30.15%
|
Royal Dutch Shell
|
45.96%
|
& everything else!
Merck (Pharmaceuticals)
|
33.51%
|
Dow Chemical
|
18.65%
|
Procter & Gamble
|
19.87%
|
Alcoa (Aluminium)
|
21.28%
|
Monsanto
|
19.18%
|
United Health Group
|
34.81%
|
“We had to struggle with the old enemies of peace—business and financial monopoly, speculation, reckless banking, class antagonism, sectionalism, war profiteering.
They had begun to consider the Government of the United States as a mere appendage to their own affairs. We know now that Government by organized money is just as dangerous as Government by organized mob.”
President Franklin D. Roosevelt announcing the “New Deal“
October 31, 1936
Thanks to http://www.spankyourbank.com.au/ for highlighting the original links between Australian banks!
Next: http://citizenloz.blogspot.com.au/2012/06/sharemarket-basics-australian.html
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