This Month
The digital currency quietly taking over the global financial system
In an era where economic statecraft increasingly involves payment systems and financial sanctions, control over monetary infrastructure carries geopolitical weight.
Public-to-private ninja a late entrant to Perpetual wealth bidding
Street Talk understands Mike Murphy’s Bain Capital has lobbed a first-round bid for the $500 million unit less than a month after it pulled out of the race for Insignia.
May
Will Jamie Dimon build the first US trillion-dollar bank?
The US has never had a bank of such size as JPMorgan – but the institution’s tremendous size, success and prominence pose risks, too.
Three things to look for in a fundie, from someone who’s met hundreds
From the magnificent seven to BATMMAAN, it’s about funding the next big thing – and cutting through the spin, says Russell Investments’ Jon Eggins.
This is the biggest test for Macquarie since the GFC
It is critical the board does not underplay the huge cultural turnaround that the bank must confront, which could prove tougher than the post-GFC rebound.
Private equity giant Bain Capital’s warning for 2025 deals, everywhere
Bain’s withdrawal of its Insignia bid doesn’t bode well for Australian leveraged buyouts more broadly as global market volatility persists.
A lot of fundies at Macquarie conference, not a lot of new ideas
Investment conferences are all about who’s on stage. But what if you looked the other way and considered who’s in the crowd?
Private capital dealmakers reassemble at Perpetual; weigh wealth bids
Expectations are the wealth business could fetch around $500 million at the low end, $700 million at the upper.
Anchorage Capital Partners COO resigns, jumps to family office
The executive, who also leads the firm’s engagement with investors, has found a job at one of Anchorage’s investors, Cambooya.
Morgans’ long-serving CEO John Clifford passes on the baton
Clifford started his career in 1993 and has held several pivotal roles at the Brisbane-headquartered stockbroking firm.
April
Perpetual goes on the attack, hires from Ord Minnett
Advice duo Michael Innes and Antony Pupovac have worked together for the past 17 years and oversaw around $175 million in client funds.
Luna Partners hits its stride with PE deals
It’s particularly relevant for private equity funds with high minimum investment thresholds, or those that don’t have a retail feeder vehicle in place.
Macquarie joins stampede away from stocks and bonds investing
Macquarie Asset Management will hive off $285 billion in public assets in North America and Europe and sell to a Japanese financial giant.
What does a 900-year-old monarchy bring to modern private banking?
Like all royals on whose door this correspondent has ever knocked, getting an audience with Liechtenstein’s Serene Highness is not necessarily the easiest of feats.
Mortgage market set for sweeping change, distortion as election looms
The pork-barrelling measures will likely spur house price growth as demand climbs, while knock-on effects will hit the lenders mortgage insurance market.
Portelli hits fast lane on mooted LMCT+ sale, MacCap takes the wheel
Several conversations around how a change of control could play out and the steps needed to make LMCT+ sale-ready had taken place since the end of last year.
March
Australia must heed turning tide of banking regulations abroad
APRA’s regulatory mission creep is unlikely to help banks and insurers compete more effectively against nimble start-ups and tech giants expanding into financial services.
Billionaire Nicola Forrest appoints UBank boss to run family office
The country’s second-richest woman has been building up the charitable and investment sides of her family office, Coaxial Foundation and Coaxial Ventures.
February
Job losses at MS Wealth Management amid ‘strategic pivot’
The investment solutions team will merge with the wealth management research team, and the Chinese wall between the two divisions will be done away with.
Three’s an unusually big crowd in a $3b leveraged buyout; buyer beware
When PE firms push each other to the limit, the buyer often lives to regret it. Insignia Financial is a fascinating test.