Financial Services

EY boss to APM after PE deal

EY’s Perth managing partner, Mike Anghie, is planning to join APM as its chief executive, four months after advising Quadrant Private Equity on the purchase of a 60 per cent stake in what is Australia’s largest privately owned human services company.

Growth in impact investment

Social impact is becoming a larger factor for investors aware of the growing base of conscious consumers.

Van Der Wielen recruits banker as Kyckr chair

Global regulatory technology play Kyckr has appointed Tesco Bank CEO Benny Higgins to replace HBF CEO John Van Der Wielen as chairman next year as the group revamps its board.

Royal commission shock shakes ASX

The Australian share market has closed lower following the shock announcement of a royal commission into the finance industry, with banks and insurers hit by the news - Commonwealth Bank and ANZ recording the biggest falls.

Firstmac will not extend Goldfields Money offer

Brisbane-based Firstmac Holdings said today it would not extend its cash takeover offer for Goldfields Money, which has recommended shareholders support an alternative scrip-based merger with mortgage aggregator Finsure.

Westpac expands business banking arm

Westpac Bank has absorbed the Western Australian business banking operations of its wholly-owned subsidiary St George Bank, adding to a string of changes in the sector.

APRA warns on growth in big mortgages

The banking regulator is still concerned about the size of the mortgages being taken on by consumers despite the effectiveness of its efforts to curtail housing market risks.

Stargroup goes into receivership

ATM operator Stargroup has been placed in the hands of insolvency firm KordaMentha after the loss-making company was unable to complete a restructure of its $9.1 million debt.

Sharequity targets smaller raisings

A new capital markets platform that has backers from accounting firm BDO, law firm Steinepreis Paganin, and property group CrowdfundUP plans to target both traditional capital raising deals and the new field of equity crowdfunding.

Sodexo expands in slow market

Sodexo’s acquisition of Morris Corporation has pushed it up the ranking of big facilities management companies in Western Australia at a time when its competitors have been battling with the slowdown in large projects in the Pilbara.

CEO lunch with Fabian Ross

There’s plenty of talk about the need for ‘resilience’ these days, but WA Super CEO Fabian Ross learned that lesson long ago.

Share market rises on energy stocks

The share market has closed higher as takeover speculation fueled a big gain for gas giant Santos and other sectors recovered from early weakness.

Aust shares follow negative Wall St lead

The share market is following a negative lead from overseas markets, weighed down by weakness among miners and banks.

Wyatt still open to bank tax despite SA move

Treasurer Ben Wyatt has kept open the possibility of a bank tax in Western Australia, after South Australian Premier Jay Weatherill today quietly dropped his state’s planned tax on the five biggest financial institutions.

Resources stocks weigh on Aust sharemarket

The materials and energy sectors are under pressure in early trade as the Australian share market continues to reverse its climb past 6,000 points.

Goldfields Money rejects increased Firstmac offer

The board of Kalgoorlie-based bank Goldfields Money has knocked back a fresh takeover bid from Brisbane financial business Firstmac Holdings, which valued the company at $1.27 per share.

Government backs mutual change

The federal government has announced it will adopt a host of Senate committee recommendations aimed at improving mutual and cooperative firms’ ability to raise capital.

Former Perth financial adviser banned for 10 years

The Australian Securities and Investments Commission has banned a former Perth-based financial adviser from providing financial services for 10 years, while an ex-Commonwealth Bank financial planne

Former Perth stockbroker sentenced

Former stockbroker Lewis Fellowes has been sentenced to three years’ imprisonment after pleading guilty to three dishonesty charges, but has been spared prison time after entering into a $30,000, five-year good behaviour bond.

Shareholder bids $25m for Goldfields Money

ASX-listed financial institution Goldfields Money has received a takeover offer from its largest shareholder, which values the target at about $25 million.