Commonwealth Bank of Australia to spin off wealth, mortgage broking units

Commonwealth Bank of Australia to spin off wealth, mortgage broking units

Pedestrians walk past a Commonwealth Bank of Australia branch in Sydney, Australia, on Monday, Aug. 7, 2017. Photographer: Brendon Thorne/Bloomberg

Commonwealth Bank of Australia, the nation’s largest lender, plans to spin off its wealth management and mortgage broking businesses, and may sell its insurance unit.

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