Afterpay, Zip in revenue chase
Shares in tech darling jump past $90 to new high as buy now, pay later pioneer halves its annual net loss to $19.8m.
Financial Services
Former Cbus boss calls for AMP culture review
Cbus has been critical of AMP’s leadership over its handling of the situation that has led to several staff exits.
Goldman joins Credit Suisse in AMP takeover defence
Goldman Sachs joins the AMP investment banking team of advisers, as potential buyers continue to run the numbers on the wealth group.
This crisis is an 8.5
Listed financial conglomerate Link Group’s departing CEO says if the GFC and dot.com crash were 6 on the financial Richter scale, COVID-19 is 8.5.
Can AMP outlive the Circular Quay curse?
For decades AMP management has had possibly the best view in Sydney. They should have been looking inside instead.
O’Sullivan to succeed Gonski as ANZ chair
Former Optus CEO Paul O’Sullivan’s focus will be on recovery when he takes over from David Gonski as ANZ chairman.
We expect more, funds warn miners
Institutional investors have taken aim at the resources sector in the wake of Rio Tinto’s Juukan Gorge disaster.
AMP shaken by ‘groping’ claims
Parliament hears damning accusations by another former female AMP employee, alleging ‘consistent and systematic’ harassment’.
ASIC drops CBA’s Austrac investigation
The decision removes a cloud over executives and directors, including chair Catherine Livingstone and CEO Matt Comyn.
COVID has affected oversight: APRA
The prudential regulator has admitted that remote monitoring has diminished the effectiveness of its oversight with financial institution.
‘Investment mania’ running through markets, says Platinum
Funds under management fell to $21.4bn, down 14 per cent on the year prior as it suffered $3bn in net outflows.
Insurance broker network Steadfast slips to loss
Rapid expansion has seen the value of recent buys re-evaluated.
Resimac gains with growth in home loan portfolio
The non-bank lender had a 19 per cent lift in annual net profit on the back of growth in its home loan portfolio.
Jefferies hires JPMorgan’s Woodard
Jefferies has hired former JPMorgan analyst Sebastian Woodard to its local team, as it continues to grow its footprint after a raid on CLSA.
Suitors circle beleaguered AMP
Several corporate and private equity buyers are thought to be keeping a watching brief or actively running the numbers on AMP.
Accountants left on the sidelines
The insolvency industry is coming to grips with the fact that it’s been completely sidelined from the biggest ticket of industry reforms since the 1980s.
My three big mistakes: VGI’s Luciano
The hedge fund manager said he had made some missteps including selling out of music streaming giant Spotify at the wrong time.
AMP chief has ‘right ideas’
AMP chief Francesco de Ferrari has a supporter in former AMP chief investment officer Merv Peacock.
Former celebrity financial planner Sam Henderson guilty
Former celebrity financial planner Sam Henderson pleaded guilty on three charges on Tuesday for misrepresenting his qualifications over several years.
Vic home loan deferrals tick up
CBA says requests for payment deferrals have risen amid Melbourne’s lockdown, in contrast to the rest of the country.
Industry ‘is responsible’ for wealth gap: HUB24
A lack of financial advice may have contributed to workers pulling more than $30bn from their superannuation accounts, the wealth manager says.
Board showdown forced Murray to fall on sword
A spate of blunt phone calls and emails to the besieged David Murray-led AMP board late last week spelt the end for the group in its current form.
AMP left reeling as board implodes
AMP is embarking on yet another journey to repair trust and fill key board and executive vacancies, after a tumultuous period marred by revelations of poor executive conduct.
New AMP chair has impressive record
AMP’s new chair Debra Hazelton smashed all sorts of glass ceilings in her time as a senior executive in the Japanese banking world.
A tale of two corporate disasters
Two household-name companies, Rio Tinto and AMP, two corporate governance nightmares, two different reactions.
Omni Bridgeway pivots to corporate funding
Te funder has set out a deliberate strategy to boost corporate funding side of the business because concentrating on class actions in Australia would have exposed it to too much risk.
Record low early access super paid out
The weekly amount paid out under the government’s COVID-19 early access of super scheme is at a record low.
Banking compensation surges above $1bn
National Australia Bank leads the pack, with $368m paid for its fees-for-no-service misconduct to 54,826 customers.
CBA stepping up small business challenge
CBA’s new business banking boss Mike Vacy-Lyle is determined to step up relationships with SME, and has some key industries in focus.
Power shifts to De Ferrari in AMP implosion
David Murray has fallen on his sword to protect his appointed chief executive in a classic old school response to a governance nightmare.
Original URL: https://www.theaustralian.com.au/business/financial-services/page/197