Yesterday
‘Seduced by his personality’: The fall of a finance fraudster
Linden Toll was a former Sydney Grammar boy and one-time Macquarie futures trader who promised investors interest rates on loans of 10 to 12 per cent. But it was all a facade.
Macquarie risks first-ever strike amid disquiet over bumper pay days
Two influential advisory firms are urging their clients to reject salaries and bonuses, citing a failure to hold executives accountable for compliance issues.
Hostplus’ $10b property bomb is a warning for all Australian investors
Lendlease and Mirvac’s battle for three funds is about more than $10.5 billion in assets. It’s about who gets to invest the whopper retirement savings pool.
Meet the Wall Street deal legends behind the sale of MLC
The private equity firm that’s nabbed MLC owner Insignia Financial has two titans driving its latest deal. They’ll need plenty of patience.
ANZ’s Nuno Matos reads riot act to staff, says culture must ‘pivot’
The newly installed chief executive has been holding a series of town hall forums and meeting government officials as he stamps his authority over the bank.
Future Group to launch secondary sale at $280m valuation
Street Talk understands Future Group will go to its investors later today to announce a secondary sale.
Insignia undervalued by public markets, says CEO after $3.2b takeover
All-cash private equity deal will put an end to the uncertainty that has hung over the 180-year-old wealth management giant amid a protracted takeover tussle.
Pimco’s man from inside the Fed says Jerome Powell not for turning
As the central bank’s former vice chairman, Richard Clarida has first-hand insights into the politics and communication challenges it faces in an age of Donald Trump.
Meteoric Resources passes can around as two brokers hired
The miner is looking for about $35 million in fresh funds via an institutional placement.
Strange side-hustles around Macquarie’s CEO succession
The bank’s CFO Alex Harvey is a potential successor to Shemara Wikramanayake. He’s also in business with another former Macquarie CEO.
This Month
Goldman Sachs adds MD to real estate ranks
Samuel Green will rejoin the Wall Street bank, based in Sydney, as a managing director after an eight-year interlude.
NOJA Power process down to the short strokes: Blackstone bankers up
Blackstone and EQT are through to the second stage, with the former understood to have hired Michael Stock’s Jefferies Australia.
Franking frenzy: The push is on for dividend treats
Tax system changes are in the zeitgeist and hanging over companies’ decisions. There could be money for investors.
AMP boss urges platforms to ditch ‘bad apples’ after $1b failure
CEO Alexis George says the recent failure of two investment schemes was “horrific for the industry and horrific for the community”.
Bell Potter kicks off equity raisings for Amplia, Elsight
The shares of Amplia Therapeutics and Elsight Limited were placed in a trading halt on Monday morning.
Australia must regulate AI for productivity growth, not just for risk
What’s needed now is a policy framework that empowers markets while safeguarding customers. One that encourages innovation, rather than simply fearing disruption.
PE-backed student living developer Cedar Pacific hits fundraising trail
The Brisbane-based fund manager has hit the pavement to raise a $100 million-plus fund from wealthy families and investors.
Apple Pay at risk as end of card reward programs as we know them looms
Far-reaching RBA proposals to change how credit card payment processing is paid for blindsided banking executives last week. The pushback is about to begin.
Tap and go? Credit cards? In these suburbs, cash is still king
More than 1 million people use banknotes and coins for their everyday payments, even as regulators and banks prepare for the day the country goes cashless.
Another week, another moment of reckoning for private credit funds
Three months ago, investors were cheering the stability of their investments amid a turbulent market. Now it’s clear that there’s a cost for that upside.
The quiet death of Mayfair 101 founder’s ASIC conspiracy theory
A Federal Court judge has ruled that James Mawhinney’s $1.6 billion Dunk Island vision was not only fatally flawed, its collapse could not be blamed on ASIC.
Billionaire Fox family says RBA’s push on cash powers is ‘unusual’
Armaguard’s owners say they have no interest in selling the dominant banknote and coin transport business if banks and regulators agreed to “fair prices”.
Regal-backed Merricks delays redemptions from $1.2b flagship fund
The private credit firm has told investors it cannot meet requests until at least December, but is promoting loans as a “particularly attractive opportunity”.
Armitage readies healthtech for sale, tapping Houlihan Lokey
Mark De Ambrosis’ Armitage first bought into MYP in December 2020, acquiring a stake just north of 50 per cent.
NAB directors met to discuss Andrew Irvine, urging him to smarten up
The Phil Chronican-led board informally convened this week amid disquiet from institutional investors about the bank CEO’s management style, sources said.