alisoncc
1. J P Morgan Nominees Australia 514,714,244 shares 22.72%
2. HSBC Custody Nominees (Australia) Limited 428,322,920 shares 18.91%
3. National Nominees Limited 413,707,968 shares 18.26%
4. Citicorp Nominees Pty Limited 253,053,991 shares 11.17%
Bankers, bloody bankers. They stuffed up the US home market, whilst lending funds to countries that couldn't repay leading to the European sovereign debt crisis. How much more of the world's business do they need to stuff up before they get reined in. Join the "Occupy Wall St" movement.
My understanding is that a nominee account is one where the named party holds it on behalf of others which could be individuals, pension funds etc. So although you see the names of banks it is not they who vote or have the economic benefit of holding the shares.
I agree greedy Banks are partly to blame for lending to bad credit risks but surely greedy governments and individuals wanting to spend beyond their means and taking up the credit are equally to blame. It's all to easy to make a single party a scapegoat so everyone else can feel good but the truth is more complicated and the media is not interested in the truth but in keeping circulation and viewing figures up by telling a story that accomplishes that.