Financial Services

Solar/crypto project for Collie

Collie could soon be home to a 20 megawatt solar farm and cryptocurrency 'mining' operation, after the Southern Development Assessment Panel recommended approval for a project led by energy entrepreneur Ben Tan.

CEO lunch with Andrew Hall

A survivor of the tech wreck, Andrew Hall tasted success in the venture capital space before launching his own new startup, Formalytics.

AMP CEO quits after commission mauling

AMP chief executive Craig Meller has quit the wealth management giant, becoming the first major casualty of the Financial Services Royal Commission.

AMP sheds $1 billion amid advice scandal

AMP has had $1 billion wiped off its market value during a royal commission appearance in which the wealth management giant admitted to charging clients for advice they never received and then lying about it to the corporate watchdog.

Owner-occupier lending hits fresh peak

Home loans to owner-occupiers rose 1.3 per cent to $21.5 billion in February, eclipsing November's all-time high.

Former Perth broker facing fraud charge

Former Perth finance broker Lachlan McDonald has pleaded guilty to giving false information and fraud charges following an investigation by the corporate watchdog.

CBA pays $3m after Asic advice probe

Commonwealth Bank of Australia has agreed to pay $3 million after the corporate watchdog found two of the lender's financial planning arms charged customers millions of dollars for advice they did not receive.

Perth chairman appointed BDO global leader

Accounting firm BDO has appointed Perth-based chairman Sherif Andrawes as its global natural resources leader, replacing Charles Dewhurst from the company’s US arm, after 12 years in the role.

DigitalX opens crypto fund, launches website

Local fintech company DigitalX has announced it will open a cryptocurrency-focused investment fund and launch two digital currency websites with Perth-based media company Multiplier.

ANZ to pay $3m after investigation

ANZ bank will pay $3 million after an investigation found the lender failed to provide more than 10,000 customers annual reviews of their investments.

AMP chief executive Meller set to retire

Wealth manager AMP has announced chief executive Craig Meller will step down at the end of the year, as the hunt for his successor begins.

Comyn starts overhaul of CBA leadership

Incoming chief executive Matt Comyn has already started his overhaul of the Commonwealth Bank's leadership team, with three senior executives set to depart.

Global payroll business sets up in Subiaco

Global payroll and tax compliance specialist activpayroll has set up an Australian headquarters in Subiaco to grow client capacity, as its Perth-based subcontractor, Proactiv Payroll, takes on new ventures.

Vale Warwick Kent, gentleman banker

Former banker and company director Warwick Kent, who led the revival of Bankwest after big losses in the early 1990s and through its subsequent privatisation, passed away this week at his home in NSW.

Superfunded goes into liquidation

Perth-based company Superfunded has been placed into liquidation after the Federal Court made orders to wind-up the business following an application by the corporate watchdog.

Ausdrill into ASX 200

A number of local mining companies have moved up the stock market rankings, with contractor Ausdrill included in the S&P ASX 200 index, while South32 has been admitted into the top 20 as part of the market’s quarterly rebalance.

Report to analyse remuneration

A new report will allow executives and directors to compare remuneration with peer companies of similar size or in the same industry.

ASIC seeking Superfunded liquidation

The Australian Securities and Investment Commission has applied to the Federal Court to appoint a liquidator to local company Superfunded, owned by former financial adviser Mark Goldenberg.

Five-year ban for Perth adviser

The corporate watchdog has banned Perth-based financial adviser Philip Leake from providing financial services for the next five years after he was found to have given poor advice to a number of clients.

CEO lunch with Mike Edmonds

A new book by Meerkats co-founder Mike Edmonds, Truth, Growth, Repeat, expounds a business philosophy influenced by four decades of advertising industry experience, good and bad.

WA Super merger completed

WA Super has finalised its merger with fellow local superannuation fund Concept One, with the pair combining to form a $3.4 billion fund with more than 60,000 members.