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Financial Services

National Australia Bank

NAB flags additional $525m remediation hit

AAP AAP
18 Apr 2019

National Australia Bank says it will cop an extra $525 million after-tax hit through new customer remediation costs, mostly related to its wealth arm.

NKWE Platinum

Perth accountant banned for six years

Madeleine Stephens Madeleine Stephens
17 Apr 2019

The corporate regulator has banned a Perth accountant from providing financial services for six years after an investigation found he bought and sold shares for clients so companies could meet the minimum requirement to be listed on the stock exchange.

Australian Finance Group

Mortgage lending hits record low in WA

Adrian Rauso Adrian Rauso
16 Apr 2019

Housing finance provider Australian Finance Group says lending for homes in the first three months of 2019 in Western Australia has plunged to the lowest level since it began tracking mortgage values in mid-2012.

Sentencing for Perth broker who took client cash

Business News AAP
12 Apr 2019

A former insurance broker who admitted funnelling almost $200,000 owed to clients into his own bank accounts has been sentenced to two years and nine months imprisonment.

Deloitte

Deloitte buys Perth-based consulting firm

Delia Price Delia Price
09 Apr 2019

Deloitte is expanding its Perth change management services, acquiring two new partners and 22 staff from The Terrace Initiative.

Automotive Holdings Group

AP Eagers seeks $1.84bn merger with AHG

Adrian Rauso Adrian Rauso
05 Apr 2019

AP Eagers has made a takeover bid for Automotive Holdings Group, which values the struggling West Perth-based car retailer at around $635.4 million.

P&N Bank

P&N boss to run merged bank

Mark Beyer Mark Beyer
04 Apr 2019

Perth-based P&N Bank has agreed to merge with its smaller east coast counterpart bcu, creating one of the largest customer-owned banks in Australia with $6 billion of assets.

IOOF MD Kelaher departs beleaguered firm

AAP AAP
04 Apr 2019

IOOF managing director Christopher Kelaher has left the business, as the beleaguered wealth manager focuses on restoring trust amid a shareholder class action and court action by the prudential regulator.

Commonwealth Bank of Australia

Former CBA chief exec Ian Narev joins Seek

AAP AAP
02 Apr 2019

Former Commonwealth Bank chief executive Ian Narev has been appointed chief operating officer of online jobs advertiser Seek.

ANZ Banking Group

Misconduct not just down to 'bad apples' says Elliott

AAP AAP
27 Mar 2019

ANZ Banking Group chief executive Shayne Elliott says structural issues and internal processes should cop the brunt of the blame for misconduct across the banking sector, and not a few people with bad intentions.

National Australia Bank

NAB scraps introducer fees for bank loans

AAP AAP
25 Mar 2019

National Australia Bank has scrapped a contentious program under which people including gym instructors and hairdressers were paid commissions for loans they pitched to their customers.

Westpac

Westpac in new $260m remediation provision

AAP AAP
25 Mar 2019

Westpac is setting aside a further $260 million for customer remediation, taking its total to $659 million with fees-for-no-service refunds yet to come.

KordaMentha

ASIC recovers $1.5m in final Westpoint action

Business News Business News
19 Mar 2019

The last of the 19 civil actions brought by the Australian Securities and Investments Commission on behalf of a number of investors in the Westpoint Group has been finalised.

AMP Capital

AMP acquires 50% of Optus Stadium owner

Adrian Rauso Adrian Rauso
14 Mar 2019

AMP Capital has acquired a 50 per cent ownership stake in the private company that developed Optus Stadium, adding to several other infrastructure assets it has purchased in Western Australia including Kalgoorlie prison and Port Hedland airport.

KPMG

KPMG buys Ferrier Hodgson

Adrian Rauso Adrian Rauso
14 Mar 2019

Perth-based Matthew Woods will be the joint leader of KPMG's greatly expanded insolvency practice after the 'Big 4' accounting firm finalised a deal to acquire Ferrier Hodgson. The merged entity will have 27 partners nationally and be the largest practice in WA.

WA Super

WA Super in merger talks with interstate funds

Adrian Rauso Adrian Rauso
13 Mar 2019

WA Super has confirmed a memorandum of understanding has been signed with two other superannuation funds to create an entity that would manage around $23 billion in assets for about 347,000 members.

Australian Finance Group

Backflip on mortgage broker changes

AAP Business News
12 Mar 2019

Mortgage brokers will continue receiving trail commissions beyond 2020 under a federal coalition government, with Treasurer Josh Frydenberg revealing a plan to scrap them has been dropped.

Investor recovers $10m Stripe Capital loss

Mark Beyer Mark Beyer
Madeleine Stephens Madeleine Stephens
11 Mar 2019

QBE Insurance has been ordered to pay $10 million to a Perth investor who was a client of stockbroking firm Stripe Capital and former Perth broker Todd King.

Pioneer Credit

Pioneer Credit takes a dive

Mark Beyer Mark Beyer
27 Feb 2019

Shares in Pioneer Credit fell 29 per cent yesterday after the company reported a weak interim result and its accounts were qualified by its auditor.

Australian Finance Group

AFG posts 2.2% profit jump

Adrian Rauso Adrian Rauso
22 Feb 2019

Australian Finance Group has announced a cash profit increase, and said there were encouraging signs for the future of the mortgage broking industry.

Accountant jailed for tax fraud

Business News Business News
21 Feb 2019

A 33-year-old Perth accountant was today sentenced in the Perth District Court to four years’ jail for tax fraud, after obtaining and trying to obtain over $250,000 from his clients and the Australian Taxation Office.

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