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Magellan Financial Group Chairman Hamish Mclennan

Magellan ‘more than just Hamish’, says new chair

Magellan’s shares soared by almost 20 per cent after reporting market-beating results and the new leadership team seeks to remind investors the embattled fund manager can survive without its celebrity stock picker, Hamish Douglass.

  • Charlotte Grieve

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Challenger CEO Nick Hamilton.

Challenger flags ‘common purpose’ with US-based Apollo

Alongside its financial results, Challenger unveiled plans to build a non-bank lender with US private equity firm Apollo in what could be the beginning of a more collaborative working relationship between the pair.

  • Charlotte Grieve

IOOF chief tips financial advice surge if second recession hits

IOOF is seeking to become the country’s largest and cheapest financial advice provider but substantial costs associated with its acquisition strategy, and no guidance on future earnings has created uncertainty for investors, causing a 10 per cent stock fall.

  • Charlotte Grieve
ASX chief executive Dominic Stevens

‘More accountable’: ASX chief makes changes to boost governance

ASX chief executive Dominic Stevens says improving accountability is a key focus for the bourse operator, following a major outage last year and a delayed technology overhaul.

  • Charlotte Grieve

‘Not perfect’: Magellan investor admits mistakes were made in FY21

Magellan’s chief investment officer Hamish Douglass has defended the group’s approach to diversifying operations and predicts key stakes in loss-making companies will come good.

  • Charlotte Grieve
AMP’s newly appointed chief executive Alexis George, who replaced Francesco De Ferrari after he suddenly resigned in March mid-way through his contract, said she was “pleased to have joined AMP at this important time, where helping our customers to invest and plan for the future has never been more important”.

‘Iconic brand again’: AMP’s new chief vows to fix damaged reputation

AMP’s newly appointed chief executive Alexis George wants to make meeting with frontline staff a regular fixture in her hands-on approaching to turning around the 172-year-old company’s battered reputation.

  • Charlotte Grieve
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Nick Hawkins, chief executive of IAG.

‘Disappointing’: IAG chief vows to fix risk problems

IAG chief executive Nick Hawkins has pledged to improve technology, processes and accountability following a $427 million loss largely driven by risk management failures.

  • Charlotte Grieve
Mirrabooka managing director Mark Freeman.

Investors betting on COVID-19 recovery within two to three years: AFIC

The chief executive of Australia’s largest listed investment company says investors believe there will be a recovery from COVID-19 within the next two to three years.

  • Charlotte Grieve
Austal plans to sell its stake in a Chinese ship-building business.

ASIC launches legal action against defence contractor Austal

The corporate cop has launched a civil lawsuit against ASX-listed Austal and its former chief executive over allegedly withholding market sensitive information from investors.

  • Charlotte Grieve
US stocks rallied sharply.

Pendal cements status as global investor with US acquisition

One decade on from when Pendal made its foray into international investing, the ASX-listed money manager is now truly a global investor.

  • Charlotte Grieve

Original URL: https://www.smh.com.au/topic/corporate-reporting-hy1