Financial Services

An Islamic banking group that offers loans without interest repayments has been sanctioned by Australian authorities.

A Perth businessman has failed in his bid to claw back $500,000 from financial advisor Gui De Castro and end a year-long legal battle over what he claims was a bungled investment deal.

Euroz Hartleys Group has announced a suite of appointments, with Fiona Kalaf joining its board of directors and Amanda Boyce and Ben Crossing taking senior executive roles.

A Mosman Park-based financial advisor has been charged with fraud after the corporate watchdog allegedly found he had stolen more than $1.8 million from clients.

National wealth management firm Ord Minnett has used the official opening of its Perth office to signal its intention to expand in Western Australia.

A stockmarket trader who used the online chat forum HotCopper to ‘pump and dump’ shares faces the possibility of a long jail sentence after pleading guilty to 23 charges.

Euroz Hartleys Group has signalled a likely fall in annual profit with the main driver being a sharp decline in new capital raisings.

Melbourne-based SW Accountants & Advisors has made a big move into Western Australia by acquiring Walker Wayland WA.

The corporate watchdog has torn up the licence of West Perth-based investment service Quattro Capital Group and barred director Grant Gibson over its ties to embattled investor Mayfair 101.

Perth-based financial advisory firm PMM Group and property entity My Two Boys will be wound up, almost one year after investors lobbed $2 million in claims against them.

One of Australia’s top corporate dealmakers, Jarden’s Aidan Allen, has splashed $4.2 million on a house in Perth but we’re told he is not moving west. It’s for holidays.

Liquidators for Forex Capital Trading released their investigation report, finding that the company’s former customers have incurred a loss of at least $77.5 million.

Macquarie Group's full-year profit has surged 56 per cent to $4.71 billion, but the group will maintain a conservative approach in FY22.

National Australia Bank's first-half cash profit has risen 4.1 per cent and the lender has also lifted its interim dividend to 73 cents a share.

Euroz Hartleys has discontinued its lawsuit against four former employees it claimed had stolen confidential data before moving to competitor Canaccord Genuity.

Fixed pay bands across PwC Australia for the next financial year have been released, showing how partners are able to accumulate millions per year.

Poynton Stavrianou has laid claim to being Perth’s largest fully-independent investment bank after appointing a new director and reporting growth in its operations.

Perth broker Euroz Hartleys has promoted its head of institutional sales Tim Bunney to managing director, replacing Rob Black.

The Commonwealth Bank has won a $100 million contract to provide banking services to the state government for at least three years.

Perth-based financial advisory firm PMM Group has mounted a $2.8 million legal claim against the company of Perth businessman Rodney Charles Carter over an alleged share sale gone wrong.

Pioneer Credit has successfully raised $11.4 million to fund the purchase of what it is labeling a high-quality debt portfolio.

Privately-owned Perth tech company VGW Holdings has continued its spectacular growth, reporting a 63 per cent surge in revenue and a half-year profit of $308 million.

Cash Converters has booked stronger revenues for the half-year despite losing a quarter of its trading days to the pandemic, but a revaluation of its stores has hindered the Perth-founded franchise's bottom line.

Bankwest has told staff it plans a major shift in strategy, with its entire business banking operation to be shifted to parent company Commonwealth Bank.

Wealth manager AMP says that it has received interest from outside suitors in its AMP Capital business, as it handed down a full-year net loss.

CBA has flagged an additional $2 billion share buyback after first-half profit jumped 26 per cent to $4.7 billion.

Australia and New Zealand Banking Group has flagged softer revenue and lower margins in the December quarter amid tough competition in the home loans market.

Westpac is seeking to cut about 20 per cent of its head office jobs as an increasingly competitive operating environment prompts the bank to bring forward cost-saving efforts.

Euroz Hartleys Group has reported a $22.9 million net profit for the six months to December 2021, below the bumper result it achieved in the previous six months.

Australia’s central bank will end its bond buying program but will have a slow approach to increasing interest rates from record low levels.

The corporate watchdog has barred Ananda Kathiravelu from providing financial services over a market manipulation scheme that almost landed him behind bars.

A Supreme Court ruling has detailed the bitter falling out between the two founders of insurance broker Reliance Group and their key backer, Jon Fogarty.