5 things to know today

The J.D. Power 2020 Australia Retail Banking Satisfaction Study^SMhas revealed 23% of Millennials say their bank’s support in helping them make better financial decisions is “poor” or “just okay”. Additionally, 16% of Millennials have switched banks in the past 12 months, which is four times that of older customers (4%). As a result, 20% of Millennials intend to switch banks in the future, reasons including non-competitive interest rates (36%), high fees (20%) and inconvenient branch locations (19%).

Females and Australians over the age of 65 were the biggest recipients of the Morrison government’s $750 COVID-19 stimulus support payments. Females received 59% of payments, or roughly $5.2 billion.

The Bloomberg Women’s Buy-side Network has launched a chapter in Japan, aiming to create a community of females in the asset management industry in Asia. Their goal is to “track investment trends and aspire to serve as role models for the next generation of asset managers in the region”.

BNSF Railway, which is one of the largest operating units of Warren Buffett’s Berkshire Hathaway, has appointed their first female CEO. Kathryn M. Farmer will assume her role as president and chief executive officer on 1 January 2021. This will also make her the first woman to lead a major railway operator in North America.

A new report focusing on “The Role of Entrepreneurship in Closing Gender Gaps in Myanmar,” which aims to inspire innovative business models that improve female livelihood in Myanmar, has been launched by the Sasakawa Peace Foundation (SPF), Emerging Markets Entrepreneurs (EME) and Support Her Enterprise (SHE).

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