Coin claims bank deals to go ahead. (cover story)

SALE of banks; COIN Software P/L; MACQUARIE Bank Ltd.; BANK mergers; BANK holding companies; MERGERS & acquisitions; BANKING industry

This article reports that the founder of Coin Software recently said that its roll-out to the adviser networks of two major banks has not been compromised by Macquarie Bank purchasing the company. Macquarie's Adviser Services division, meanwhile, is refusing to disclose how much it paid for the full acquisition of Coin, but division head Neil Roderick said that the price tag was below the $32 million being reported by some media. Darren Pettiona, Coin's head of distribution, rejected rumors that Coin's new rival hank ownership had upended either agreement, saying Commonwealth Bank's roll-out remained on track for July and Westpac Banking Corp.'s for September 2005.