Financial Services

Bigger better no more

Opinion: The current banking royal commission and global shift to downsizing are raising questions as to whether any institution or business is too big to fail, or at least be broken up.

AMP rejects criminal charge recommendation

AMP has revealed almost 16,000 of its customers paid fees for financial advice they did not receive, while arguing it "strenuously denies" recommendations it face criminal charges over the scandal.

The cost of complacency

Will financial services companies wish they had taken a different path all those decades ago, when superannuation nest eggs looked so attractive?

Changes coming, you can take that to the bank

The banking royal commission’s exposure of shady practices will no doubt lead to calls for change, but perfect solutions are hard to find.

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.

Former Perth broker facing fraud charge

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

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.

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.

Fiona Drummond to lead EY

EY has named Fiona Drummond as its next managing partner in Western Australia, making it the second of the big four accounting firms to have a female heading its Perth office, and only the sixth out of 86 accounting firms listed on the BNiQ Search Engine.

Banks, brokers get a taste for WA wine

If WA’s wine industry isn’t exactly booming today, it could be a different story soon.

Crypto raising a Discovery process

A Perth corporate advisory firm is acting as lead manager to raise $US15 million for an Australian cryptocurrency that will make it easier for banks to verify the sources of payments they receive from the growing digital cash market.