Yesterday
Trump’s trade ructions will end up disrupting banking and payments
European Central Bank president Christine Lagarde has lamented an almost exclusively American financial infrastructure. Others feel the same way.
ASX is facing a perfect storm. What’s it going to take to fix things?
The operator of the nation’s market infrastructure finds itself in a farcical and unacceptable position. Hopefully, it can heed the messages being blasted through.
This Month
Goldman’s 73-minute recession says everything about a reeling market
Was it The Art of the Deal, or just Donald Trump blinking in the face of a bond market shock? Either way, it’s been a day of whiplash for traders and brokers.
Revealed: RBA’s scathing warning it has ‘lost confidence’ in ASX
In a strongly worded missive sent to the exchange’s chief executive Helen Lofthouse weeks before an outage, the central bank warned of entrenched problems.
Severe financial markets instability makes picking the trough elusive
Even veterans like Ellerston’s Ashok Jacob are having difficulty picking the bottom, as the seesawing in financial markets continues amid extreme volatility.
How Europe deals with Trump tariffs will be the market’s next test
The White House’s ‘liberation day’ is turning into a week of value destruction – and all eyes are on Europe as it draws up a hit list of US products to levy.
Time is running out and ASX boss Helen Lofthouse has no room for error
Any spike in trading volumes due to higher volatility and wild swings will heap pressure on the exchange, which is already navigating a regulatory firestorm.
Inside the ‘great frustrations’ between Shayne Elliott and ANZ board
The veteran banker is finishing as chief executive next month – after nearly a decade, regulatory reprimands and plenty of tension at the top.
March
Executive changes disrupt big banks as BoQ sounds out CEO candidates
The musical chairs have started one rung down from the big banks’ top jobs, and everyone is looking for new hires. When will the music stop?
WiseTech’s fully fledged governance crisis is only just beginning
Richard White is back in control, but the countdown is on for the logistics software giant to avoid the ASX’s wrath. So who will agree to sit on its board?
ANZ backflips on culture review and agrees to release report in full
The Melbourne-based bank’s board will meet this week to consider a report into governance in its markets unit authored by consultants at Oliver Wyman.
Aussie franchisees to lob complaint with ACCC, amid bullying claims
Commonwealth Bank-backed Aussie Home Loans is embroiled in a stoush with a group of its franchisees, in a dispute that is headed to the ACCC.
CBA contract loss sends Helia into spiral days after CEO sell-down
The company, formerly known as Genworth, said the bank had entered exclusive negotiations with one of its rivals and its lucrative agreement would end.
Unpicking David Di Pilla’s HMC Capital is no easy feat
There’s little doubt the investment manager’s metrics and structure – from fund management charges to fees for acquiring assets – push the envelope.
It’s the private credit liquidity trap that poses real investor risk
It’s an interesting time for Brookfield-owned lender and real estate private credit firm La Trobe Financial to kick off a sale process for the business.
Inside Project Aries: Westpac’s secret plan for St George
The major lender has already shrunk the number of branches and closed a subsidiary’s private banking division. Now it’s considering the next steps.
APRA hasn’t read the room on board governance overhaul
A better option for the regulator would be to improve enforcement efforts, rather than increasing the compliance and governance burden on directors and boards.
CBA says responsible lending rules shield it from rampant liar loans
The bank’s retail boss, Angus Sullivan, says there are, however, “a few areas” where a banker could coax someone through an application, so it needs to remain alert.
Westpac launches internal home loan fraud probe after RAMS closure
The major lender has been conducting a deep dive of mortgages originated in-house amid concerns that borrowers are increasingly misrepresenting their finances.
October 2018
Marketlend calls for fintech clean-up, end to predatory practices
Unscrupulous lending practices by local fintechs must be weeded out and the industry more closely scrutinised by regulators, according to Leo Tyndall.