News Articles for Australian Finance Group

AFG profit jumps to $35m

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Shares in Australian Finance Group have doubled in value this year as the Perth company benefits from the increased market share held by brokers in a growing housing loan market.

First equity stakes for AFG

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Australian Finance Group has announced its first two equity investments in broker businesses following its November move to offer its networks growth-enabling finance.

AFG makes broker network equity move

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Australian Finance Group has announced it is offering to take a non-controlling equity stake across its network of mortgage broking businesses.

Appointments January 19, 2024

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Our weekly appointments wrap includes Di Bain, Rebecca Gravestock, Fiona Notley, Andrew Van Der Merwe, Kim Beazley, Felicity Gooding, Robert Ierace and Simon Theobald.

Appointments October 27, 2023

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Our weekly appointments wrap includes Dean Nalder, Mark Couzens, Andrew Woodley-Page, Them Lam, Chris Slater, Andrew Young, Terry Enright, Mike Erickson, Ross Love, David Lock, Karl Paganin and Derek Parkin.

Appointments June 23, 2023

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Our weekly appointments wrap includes Jesper Sentow, Caitlin Fox-Harding, Maureen Lewis, Matthew Howard, Lisa Bevan, Michelle Palethorpe, Sam McCready, Carmin Johnson, Tanya Browning, Nick Goosen, Thomas Cusmano, Chris Dickie, Katherine Gardner, Miles Jacob, Ilonka Spaeth, and James Arthur.

Board Moves June 22, 2023

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Our board moves wrap includes Lisa Bevan, Michelle Palethorpe, Geoffrey Xue, Eddy Cheng, DongYi Hua, Matt Szwedzicki, David Pascoe, and Kevin Das.

Board Moves February 6-10, 2023

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Our board moves wrap includes Neil Kaplan, Christian Cortes, Anthony Gill, Greg Medcraft, Gregory Van Staveren, David Lim, Pini Althaus, Tara Berrie, Stuart Carmichael, Roger Steinepreis, John Downes, Jamie Lyford, Victor Rosenberg, Michael McMullen, Bill Beament, Allan Godsk Larsen, Stephen Dunmead, Crispin Swan, David McEntaggart, Brian Scott, Jason Livingstone, Alex Krstic, Pedro Kastellorizos, Silfia Morton, James Doyle, Jessica O'Hara, Mark Bolton, Sonu Cheema, and Mark Pitts.

Appointments September 23, 2022

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Our weekly appointments wrap includes Elizabeth Gaines, Paul Fitzpatrick, Jenn Morris, Virginia Miltrup, Drew Tomkins, Giacinta Parish, Mark Reed, Greg Jason, Paul Bird, and Luca Pietropiccolo.

Board Moves August 8, 2022

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Our board moves wrap includes Melanie Kiely, Mark Hohnen, Scott Phegan, Cliff Lawrenson, Steven Zaninovich, Daniel Harris, Amanda Reid, Alistair Stephens, and Asimwe Kabunga.

Board Moves December 10, 2021

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Our board moves wrap includes Annette King, Marc Steffens, Ramon Soares, James Chialo, and Rowan Johnston.

AFG brokers fintech buy

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WA mortgage broker Australian Finance Group is set to pay up to $70 million for asset finance aggregator Fintelligence, adding another 285 brokers and $1.1 billion in projected settlements to its books.

Board Moves September 14, 2021

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Our board moves wrap includes Greg Medcraft, Susan Kilsby, and Anita Frew.

Big local players branching out

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Only a handful of Perth-based companies outside the resources sector have built truly national or global operations.

Appointments April 1, 2021

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Our weekly appointments wrap includes Sev Isikli, David Buckingham, Katrina Powell, Andrew Bell, Simone Hansen, Dougal Thring, Alexandra Heaton, Clementine Crowther, Sandra Brkic, Doriena Parsons, Susanne Johnston, and Chris Carman.

AFG residential sales reach $34bn

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Mortgage lender Australian Finance Group has posted an underlying profit of $36.3 million for the full financial year on the back of rising residential settlements.

Approval for AFG-Connective merger

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Australia's competition regulator says it will not oppose a planned merger between mortgage aggregators Australian Finance Group and Connective, despite holding previous concerns around competition.

AFG announces $60m equity raising

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Australian Finance Group has announced a capital raising to strengthen its financial position ahead of an expected softening of the housing loan market and to support the growth of its subsidiary AFG Securities.

AFG reports strong interim results

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Australian Finance Group has reported a 20 per cent rise in first-half net profit to $17.7 million, sending its shares 10 per cent higher at the market close today.

ACCC raises concerns over AFG deal

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Australia's consumer watchdog has raised concerns over the proposed acquisition of mortgage aggregator Connective by Perth-based Australian Finance Group, as the merged group will have nearly 40 per cent market share.

WA companies use mix of pay strategies

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Our comprehensive annual survey of chief executive remuneration shows wide variation across companies.

AFG directors in $27.6m sale

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Two Australian Finance Group founders have sold shares worth about $27.6 million, about 5 per cent of the company, as they plan to diversify their portfolios.

ASIC bans WA finance broker

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The Australian Securities and Investment Commission announced today it has banned Element Finance Group director Tim Zheng from engaging in credit activities for at least three years.

Mortgage lending rebounds in WA

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Housing finance provider Australian Finance Group says lending for homes in the first quarter of the 2020 financial year in Western Australia has rebounded from record low levels to reach its highest figure since the end of the 2017 fiscal year.

Board Moves October 10, 2019

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Our daily board moves wrap includes Kevin Matthews, Bruce McQuitty, Michael Edwards, Peter Gammell, Jeff Kennett, and Luke Martino.

AFG profit edges lower

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Australian Finance Group has posted a 0.8 per cent decrease in net profit, but is optimistic about its future following the federal election result earlier this year.

AFG set to buy rival for $120m

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Australian Finance Group has signed a binding agreement to acquire Melbourne-based Connective Group in a cash-and-scrip deal worth around $120 million that will create an entity with over 6,575 brokers.

Mortgage lending hits record low in WA

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Housing finance provider Australian Finance Group says lending for homes in the first three months of 2019 in Western Australia has plunged to the lowest level since it began tracking mortgage values in mid-2012.

Backflip on mortgage broker changes

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Mortgage brokers will continue receiving trail commissions beyond 2020 under a federal coalition government, with Treasurer Josh Frydenberg revealing a plan to scrap them has been dropped.

AFG posts 2.2% profit jump

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Australian Finance Group has announced a cash profit increase, and said there were encouraging signs for the future of the mortgage broking industry.

AFG shares fall 29% on royal commission report

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Shares in Perth-based Australian Finance Group and in ASX-listed Mortgage Choice plunged today on concerns the mortgage broking sector will be one of the biggest losers from the banking royal commission, which recommended the banning of commissions paid by lenders to brokers.

Firefly360 boosts accounts, staff

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Perth-based digital agency Firefly360 has boosted staff numbers in preparation for an increase in work next year, adding three experienced members to its team.

Corporate finance deals Apr 16 to 20 2018

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Tungsten Mining has announced a placement to sophisticated and institutional investors to raise approximately $20 million.

AFG in $10.9 million property lender buy

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West Perth-based Australian Finance Group has announced it will purchase a 30.4 per cent stake of Sydney-based commercial property lender Think Tank Group for $10.9 million.

Pub player serves up new venue

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A major eastern states hospitality group with deep pockets has just purchased its fourth venue in WA as part of a broader strategy to rapidly grow its presence in the west.

AFG upgrades profit forecast

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Australian Finance Group announced today its net profit for the current financial year would come in nearly 45 per cent higher than consensus forecasts, after a change in the way its treated certain commission income.

Board Moves June 16, 2017

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CFOAM, manufacturer of inorganic carbon material, has appointed Todd Hoare as interim non-executive director.

AFG names new CEO

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Australian Finance Group has decided to keep its interim chief executive in the role on a permanent basis, after Brett McKeon stepped down in March.

McKeon to step down from AFG leadership

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Australian Finance Group chief executive Brett McKeon will step aside after 23 years at the helm of the mortgage broker, after leading the company from its founding to an IPO in 2015 and winning the 2006 EY Entrepreneur of the Year Award for WA.

Leadership transition’s creative edge

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Changes at Amana Living's helm highlight the different circumstances facing each sector of the economy.