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Financial Services

WHL completes $5m RTO raising

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.

Rubik gets $68m takeover offer

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.

Rocke moves to Cor Cordis

KordaMentha managing partner Cliff Rocke has taken on a new role, joining the Perth office of the advisory firm that is handling the collapse of residential construction group Builton.

Passionate choice as Bransby leaves HBF

Given the passion Rob Bransby feels for healthcare, it is hard to believe he is willingly stepping down from his CEO role at HBF.

Frost damage prompts insurance offering for grain growers

A local insurance broker and a data analytics specialist have teamed up to offer grain growers the same kind of cover as energy companies and construction projects.

Poynton sets up new digs in CBD

The lure of increasingly affordable commercial rents in the CBD has drawn boutique investment advisory firm Jindalee Partners from Subiaco.

Euroz tips $13m profit

Stockbroker and funds manager Euroz has foreshadowed a strongly improved interim profit, driven mainly by the performance of Euroz Securities and the increased share prices of its listed investment companies.

Westoz, Ozgrowth to pay $4.8m dividends

Two listed investment companies controlled by Euroz Securities will pay out nearly $5 million in half-year dividends, with Westoz Investment Company announcing a 3 cent per share payout for investors while Ozgrowth will distribute 0.25 cents per share.

Banished finance broker’s appeal denied

A former Get Approved Finance broker has had his appeal denied after a tribunal backed an earlier decision to permanently ban him from the industry.

Asic bans Perth mortgage broker

The Australian Securities and Investments Commission has permanently banned a former Perth-based finance broker after finding he had engaged in misleading conduct.

Pioneer signs $100m facility

Perth-based financial services provider Pioneer Credit has signed a $100 million debt facility with Bankwest and Westpac as it seeks to continue growing its debt portfolio.

Rottnest Express partners with Westpac for UnionPay trial

Ferry operator Rottnest Express has partnered with Westpac to trial the use of a payment card that's popular with Chinese tourists, for online payment for its services to the tourist hotspot.

Asic starts proceedings against State One

The Australian Securities and Investments Commission has launched civil proceedings against Perth-based State One Stockbroking, and in a separate matter has accepted undertakings from two liquidators employed by Melsom Robson.

Asic bans Perth insurance broker

The Australian Securities and Investments Commission has permanently banned a Perth man from providing financial services after finding he had redirected $254,000 worth of clients’ funds into his own accounts.

HLB Mann Judd grows with Sovereign buy

The wealth management division of HLB Mann Judd’s Perth office has expanded with the acquisition of local financial advisory firm Sovereign Plus for an undisclosed sum.

Cash Converters to pay $12m after Asic probe

Perth-based Cash Converters International has agreed to refund $10.8 million to customers and pay a $1.3 million fine after enforceable undertakings were accepted by the corporate watchdog.

CEO lunch with Gary McGrath

Business News sat down to lunch at Julio’s with Gary McGrath, the well-travelled GM of corporate banking at the Commonwealth Bank.

Euroz tops $1bn in funds

Euroz has reported a bumper first-quarter profit of $9.75 million, driven by strong growth in capital raising deals and good performances by its funds management businesses.

Market enables new listings

SPECIAL REPORT: The stock market’s appetite for new listings is allowing a range of companies, from family-owned engineering firm Veem to big national player Alinta Energy, to raise capital.

Donnelly judgement discloses financial woes

Former footballer and insurance broker Andrew Donnelly has failed to overturn freezing orders that were imposed in January in relation to the alleged misuse of $5.1 million of trust funds from his old business.

Healthy numbers for HBF

The state’s biggest health insurer, HBF, has shrugged off a challenging market to grow revenue and break the 1 million mark for membership, as it continues to push outside its Western Australian home base.

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