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Financial Services

Commonwealth Bank of Australia

Friendly fire to hit bank customers

Tim Treadgold Tim Treadgold
26 Jun 2017

OPINION: Those among us who are unfamiliar with the term 'collateral damage' are about to learn its meaning first hand, because it is what we have become - innocent victims of bad governance across Australia.

National Australia Bank

NAB hikes interest-only mortgage rates

AAP AAP
23 Jun 2017

National Australia Bank has followed its peers by raising its variable rates for interest-only mortgages in a bid to slow down riskier lending.

Supreme Court upholds 53% loan charge

Mark Beyer Mark Beyer
22 Jun 2017

A Supreme Court dispute between West Perth firm Quantum Credit and a City Beach developer has shone a light on business practices at the risky end of the property finance market. 

Commonwealth Bank of Australia

Moody's downgrade sinks bank shares

AAP AAP
20 Jun 2017

The ASX closed 47 points lower after shares in Australia's big four banks were hit by a long-term credit ratings cut by Moody's, due to risks associated with the local housing market.

Australian Finance Group

AFG upgrades profit forecast

Mark Beyer Mark Beyer
19 Jun 2017

Australian Finance Group announced today its net profit for the current financial year would come in nearly 45 per cent higher than consensus forecasts, after a change in the way its treated certain commission income.

Australian Finance Group

AFG names new CEO

Business News Business News
16 Jun 2017

Australian Finance Group has decided to keep its interim chief executive in the role on a permanent basis, after Brett McKeon stepped down in March.

ANZ Banking Group

Watchdog bans another Perth adviser

Fraser Beattie Fraser Beattie
16 Jun 2017

The corporate watchdog has removed another Perth-based financial adviser from the industry, for mishandling payments and deceiving clients.

ANZ Banking Group

ANZ shifts rates mix against interest-only

AAP AAP
09 Jun 2017

ANZ Banking Group is raising variable rates on its interest-only mortgages by 0.3 percentage points as it reins in riskier lending in response to regulatory changes.

Westpac

Perth financial planner banned

Business News Business News
08 Jun 2017

The corporate watchdog has banned a former Westpac employee from providing financial services after finding he mishandled more than $1 million worth of advice service obligations.

Merchant Group

Merchant merges with Somers

Business News Business News
25 May 2017

Financial services firm Merchant Group has announced plans to merge with investment bank and funds manager Somers & Partners.

NWQ Capital Management

NWQ targets overseas business

Matt Mckenzie Matt Mckenzie
19 May 2017

West Perth-based fund manager NWQ has opened an office in New York as part of the business's first foray into the US market.

Royal Automobile Club of WA

CEO lunch with Terry Agnew

Charlie Gunningham Charlie Gunningham
21 Apr 2017

Business News sat down to lunch at Julio's with RAC head Terry Agnew to discuss his long career in the sector and the future of motoring.

Pioneer Credit

Pioneer raises $20m as Banksia sells out

Business News Business News
06 Apr 2017

Financial services provider Pioneer Credit has raised $20 million from investors to fund the purchase of a $14 million debt portfolio, with long-term shareholder Banksia Capital selling its 9.75 per cent stake at the same time.

MMJ Phytotech

Automic seeks efficiencies in the cloud

Matt Mckenzie Matt Mckenzie
27 Mar 2017

Perth-based share registry business Automic Registry Services wants to double its market share this year after making a substantial investment in a new cloud-based platform.

NWQ Capital Management

NWQ in US expansion, appointment moves

Matt Mckenzie Matt Mckenzie
24 Mar 2017

West Perth-based hedge fund NWQ Capital Management has revealed it will be targeting the huge US financial sector with a new offshore fund, on the same day it announced former Bennelong Funds director of consultant relationships Tara Bell would be appointed managing director of research.

Royal Automobile Club of WA

RAC partners with health insurer

Business News Business News
21 Mar 2017

Royal Automobile Club of WA members will be eligible for a 5 per cent discount on health insurance cover through a new partnership with national provider HCF.

Australian Finance Group

McKeon to step down from AFG leadership

Matt Mckenzie Matt Mckenzie
03 Mar 2017

Australian Finance Group chief executive Brett McKeon will step aside after 23 years at the helm of the mortgage broker, after leading the company from its founding to an IPO in 2015 and winning the 2006 EY Entrepreneur of the Year Award for WA.

Euroz

Euroz beats profit hopes

Business News Business News
24 Feb 2017

Stockbroker and funds manager Euroz has beaten expectations for its interim profit result, which was achieved on the back of an improved performance of its Euroz Securities business and increase in the share prices of its listed investment companies.

WHL Energy

WHL completes $5m RTO raising

Katie McDonald Katie McDonald
16 Feb 2017

WHL Energy has cleared the way to reinvent itself as a technology business after raising $5 million from investors ahead of its reverse takeover of Perth-based Quantify Technology.

Wyllie Group

Rubik gets $68m takeover offer

Business News Business News
15 Feb 2017

Wyllie Group-backed Viburnum is set to receive a big payout when fintech Rubik Financial, in which it is a substantial shareholder, is acquired by Geneva-based banking and finance software firm Temenos for $68 million.

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