Fund Product, Company and Regulatory Update as at 20 January 2018

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Product Updates

Chatbot launched by Commonwealth Bank
CBA has launched Ceba, a chatbot that can recognise 60,000 question variations regarding 200 banking tasks, including new card activation, cardless cash, checking bank balances, and making payments. Ceba is able to carry out the tasks for customers rather than simply giving instructions, making this chatbot more capable than most. 

Company Updates

Zurich AFL sponsorship deal
Zurich Financial Services Australia has signed a three-year deal to become the co-principal sponsor of the Melbourne Football Club. The Zurich logo will be displayed on the front of the Melbourne players guernseys, used in signage, and game-day advertising.

OpenMarkets announces integration, appoints executive
OpenMarkets has integrated with ASX-listed fintech SelfWealth to allow access to an enhanced online trading execution and settlement service, while also making a new appointment. Lee Redpath has joined OpenMarkets as chief operating officer, having previously been head of operations and financial intermediaries at Crestone Wealth Management.

Tourmaline Partners opens Sydney office
James Santo and Neil Hetherington have been appointed as managing directors of Tourmaline’s Australian operations, based in Sydney.

UBS global wealth restructures
UBS is merging its global wealth units to form the Global Wealth Management division as part of a $3 trillion restructure. The new division will be led by Tom Naratil and Martin Blessing.