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Financial Services

Euroz

Euroz improves net profit

Mark Beyer Mark Beyer
29 Jan 2020

Euroz has reported an unaudited net profit of $8.5 million for the half year to December 2019, reflecting a strong performance by most of its funds management subsidiaries and a solid result from its

ASIC bans Perth adviser

Jessica Mascione Jessica Mascione
06 Jan 2020

The Australian Securities and Investments Commission has banned Wayne Blazejczyk from providing financial services for five years, saying the Perth adviser had failed to meet best interest obligations

ASIC acts on $240m investment scheme

Business News Business News
12 Dec 2019

The corporate regulator is seeking to wind-up an alleged unregistered managed investment scheme run by Mt Hawthorn resident Chris Marco, who received about $240 million from 132 investors.

Financial Planning Association

Perth company wins FPA award

Jessica Mascione Jessica Mascione
11 Dec 2019

West Perth-based Capital Partners Private Wealth Advisors has been announced professional practice of the year by the Financial Planning Association of Australia.

Discovery Capital Partners

ASIC slams mining IPO promoters

Mark Beyer Mark Beyer
05 Dec 2019

The corporate regulator has strongly criticised company directors and lead managers involved in mining IPOs, saying they often have conflicts of interest, favour select clients and are focused on chasing short-term gains.

Pioneer Credit

Pioneer signs $120m scheme with Carlyle

Jessica Mascione Jessica Mascione
05 Dec 2019

Pioneer Credit has named US investment group Carlyle as preferred bidder to acquire the business, at a price of $1.82 per share, a large discount to the company’s latest closing price of $2.46 per share.

Deloitte

Deloitte takes top spot in WA

Mark Beyer Mark Beyer
02 Dec 2019

Over the course of two decades, Deloitte has overtaken all its major rivals to become the largest accounting and consulting firm in Western Australia, helped by multiple acquisitions.

Australian Finance Group

AFG directors in $27.6m sale

Matt Mckenzie Matt Mckenzie
27 Nov 2019

Two Australian Finance Group founders have sold shares worth about $27.6 million, about 5 per cent of the company, as they plan to diversify their portfolios.

Pioneer Credit

Pioneer set to change hands

Business News Business News
25 Nov 2019

Pioneer Credit has disclosed it is just days away from announcing a preferred bidder for the troubled financial services business.

Westpac

Westpac too reliant on computers

Tim Treadgold Tim Treadgold
25 Nov 2019

OPINION: The Westpac transactions scandal exposes its dependence, and that of the other banks, on computerised processing to replace people and cut costs.

Katana Capital

Fund managers offer strategy options

Mark Beyer Mark Beyer
18 Nov 2019

With uncertainty surrounding global share markets, Business News has taken a close look at the strategies of six Perth-based fund managers.

HBF

HBF revises investment strategy

Mark Beyer Mark Beyer
15 Nov 2019

Health fund HBF has shifted to a more conservative investment strategy in response to the risks facing global share markets.

Easy money comes at a cost

Tim Treadgold Tim Treadgold
25 Oct 2019

OPINION: As welcome as they are for borrowers, the current era of ultra-low interest rates is creating the climate for a financial crisis.

GMO Business Sales

Business brokers target the upside

Jordan Murray Jordan Murray
23 Oct 2019

A successful year for GMO Business Sales masked what was an otherwise quiet year for brokers across the state.

Cash Converters International

Cashies to pay $43m to settle class action

Adrian Rauso Adrian Rauso
21 Oct 2019

Investors have welcomed an agreement by Cash Converters International to pay $42.5 million to settle a class action in Queensland.

Australian Finance Group

Mortgage lending rebounds in WA

Adrian Rauso Adrian Rauso
11 Oct 2019

Housing finance provider Australian Finance Group says lending for homes in the first quarter of the 2020 financial year in Western Australia has rebounded from record low levels to reach its highest figure since the end of the 2017 fiscal year.

Imdex

Imdex in for AHG on BN30

Mark Beyer Mark Beyer
04 Oct 2019

Mining technology company Imdex is the latest addition to the BN30 index, Business News’s Western Australian equivalent of the Dow Jones index on the New York Stock Exchange.

Bankwest

Bankwest appoints new MD

Jessica Mascione Jessica Mascione
01 Oct 2019

Bankwest has announced the appointment of Sinead Taylor as the first female to lead the organisation in its 124-year history.

Hartleys

Hartleys hit by market slowdown

Mark Beyer Mark Beyer
27 Sep 2019

Hartleys has reported a big drop in annual revenue and net profit, making it the third major stockbroking firm in Perth to have its results hit by the sharp decline in corporate finance activity over the past year.

HBF

Stronger markets support insurers

Matt Mckenzie Matt Mckenzie
27 Sep 2019

Perth-based health insurer HBF has posted a 53 per cent rise in its net surplus to $93.7 million, while profit at the state government-owned Insurance Commission of WA fell 27 per cent to $203.5 million, despite an improved return on its investments.

National Australia Bank

WA misses out on NAB’s big banker boost

Adrian Rauso Adrian Rauso
26 Sep 2019

National Australia Bank will introduce 163 new roles in its business banking division, which it says is part of an Australia-wide customer growth strategy, but the jobs will almost entirely go to the eastern states.

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