Financial Services

In this podcast Mark Pownall talks to Kristen Turnbull from CoreData about her specialist subject of market research, most notably the impact of the current Royal Commission on banks and financial services businesses.

The Insurance Commission of Western Australia has reported a 43 per cent rise in profit in the 2018 financial year, to $277.7 million, on the back of higher investment income, improving premium revenue, and lower claims.

Global investment bank UBS is rebuilding its Perth office after a short hiatus, luring Tim Andrew from his Cottesloe boutique practice.

The Administrative Appeals Tribunal has today set aside a decision by the Australian Securities and Investments Commission to ban Robert Hutchison from providing financial services.

National Australia Bank has cut executive bonuses as it continues its attempt to regain consumer trust amid the fallout of the Financial Services Royal Commission.

National Australia Bank has tasked former NSW Premier Mike Baird with leading its retail unit after consumer boss Andrew Hagger decided to leave the bank following his mauling at the financial services royal commission.

The corporate regulator has commenced civil penalty proceedings against ANZ Banking Group over allegations the bank breached its continuous disclosure obligations during a 2015 capital raising.

Australia's corporate watchdog filed a lawsuit on Thursday against superannuation funds run by the wealth management unit of National Australia Bank, accusing them of charging fees to hundreds of thousands of retirees for services the were not provided.

Commonwealth Bank and ANZ have become the latest major banks to lift their home loan interest rates, with both institutions blaming rising international borrowing costs.

Goldfields Money has tapped investors for $20 million, with its planned merger with mortgage aggregator Finsure nearing completion.

Westpac has agreed to pay a $35 million fine after admitting to wrongly assessing people's ability to repay mortgages.

An accountant who pocketed almost $1.8 million after lodging more than 100 fraudulent income tax returns has failed in a bid to have his eight-year sentence reduced.

Bankwest has launched an in-app messaging service that allows its customers to have their questions and queries answered securely, quickly and easily.

Perth accountant Peter Moltoni has been hit with a $34.5 million tax assessment after the ATO took a close interest in disputed payments by his former client Pankaj Oswal.

Cash Converters International has posted a $22.5 million profit for the 2018 financial year, while also announcing the resignation of chief executive Mark Reid.

Brad Rosser brings diverse experience with Bond Corp, McKinsey and Co, Virgin and Unilever Ventures to his current focus on startups.

Troubled financial services giant AMP has appointed long-time Credit Suisse executive Francesco De Ferrari as its new chief executive, effective December 1.

Investors seem unconcerned by the fallout from the banking royal commission, with banks’ shares rising despite the flood of bad news.

Markets operator ASX Limited has posted a 2.5 per cent lift in full-year net profit to $445.1 million with a strong contribution from its listings service, capital raisings and futures trading.

Perth-based lenders Fair Go Finance and Capfin Money have announced plans to merge in a deal under which Frankfurt-listed MyBucks will sell a 60 per cent stake in the new entity to its former chief executive Tim Nuy.

HBF last night launched its new Perth city branch at Kings Square, which includes a raft of modern technology experiences including a Skype station and self-service digital claims processing.

Perth accountant Neil Alessandrino has pleaded guilty to a rolled-up fraud charge in the District Court this week.

Bankwest has posted a $681 million net profit for the 2018 financial year on the back of increased lending and a reduction in bad loans relative to 2017.

With more than $1.2 billion in funds under management, IDS Super is carving out a fast-growing niche in the self-managed superannuation fund sector.

Australia's biggest investment bank, Macquarie Group, has its first female CEO.

Companies as diverse as multinational Konica Minolta and local startup Kirrikin are operating as both for-profit and for-purpose businesses.

Perth finance executives Andrew Frazer and Simon Lill have agreed to a strategic alliance between their respective businesses.

Bankwest is closing 29 branches along Australia's east coast and cutting 200 jobs, saying customers are increasingly using mobile banking.

Financial services company Euroz has reported a surge in profits for the 2018 financial year, along with an uplift in its dividend, driven by higher performance fees from its listed investment companies.

SPECIAL REPORT: Private equity groups and credit funds are delivering a diverse range of financing options for mining projects.

SPECIAL REPORT: Western Australian companies were involved in 235 corporate finance deals worth $6.9 billion in the June quarter, with new advisory firms playing an increasing role, research by Business News has found.

SPECIAL REPORT: A new corporate advisory firm working from a historic building in West Perth has rapidly made an impact, advising on more than a dozen transactions for public and private companies.