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Financial Services


Euroz hoovers up Azure Minerals stock after SQM’s $1.6b bid

Stockbroker Euroz Hartleys was hoovering up shares in lithium play Azure Minerals on Monday morning, after the company signed a binding deed with Chilean giant SQM at $3.50 a share.

  • 1 min ago
  • Sarah Thompson, Kanika Sood and Emma Rapaport
Blessed with a sardonically witty style, Michael Lewis has the gift of being able to explain to the ordinary reader how the world actually works.

How Michael Lewis made a fortune writing about money

The author’s nose for a story has made him a figure as influential in finance as most of the people in his books – and probably as rich.

  • Jake Kerridge
NRMA Home Loans will be offered to its insurance customers, in the latest example of ‘white labelled’ banking products.

NRMA to offer home loans funded by Bendigo Bank

Like Qantas, the IAG-owned insurer will distribute mortgages to its customers via an origination platform created by fintech Tic:Toc, funded by Bendigo Bank.

  • James Eyers


AFP arrest one man in Melbourne’s Glen Iris.

‘Shiny shopfronts’ led police to bust $10b Chinese crime ring

Seven people have been arrested in connection to an alleged Chinese money laundering ring whose operators were said to lead lives of luxury.

  • Patrick Durkin
Damstra executive chairman Johannes Risseeuw and CEO Christian Damstra each own about a 10 per cent stake in the company.

Plenty of interest in Damstra as overseas software firms circle

The company sells an enterprise protection platform that targets worker safety, risk management and compliance for clients such as New Hope and Glencore.

  • Updated
  • Sarah Thompson, Kanika Sood and Emma Rapaport
Srdjan Dangubic from Five V Capital.

Five V Capital’s deal makers chase $700m for fifth buyout fund

Adrian MacKenzie and Srdjan Dangubic’s Five V Capital is donning the hard hat to raise $700 million for their fifth buyout fund.

  • Sarah Thompson, Kanika Sood and Emma Rapaport
Revolution had grown to $2.6 billion in committed capital since its founding siz years ago.

Private debt player Revolution AM poaches BofA banker for PM

Pratik Joshi, a Sydney-based vice president in Bank of America’s asset backed securities division, has deflected to work alongside Revolution’s founders.

  • Sarah Thompson, Kanika Sood and Emma Rapaport
Andrew Formica has moved quickly to put his stamp on Magellan.

Magellan chairman’s brutal reset starts with CEO’s exit

Andrew Formica has ended the tenure of David George, as well as the latter’s ambition of getting the funds under management back to $100 billion.

  • James Thomson
Andrew Formica

Magellan chairman drops $100b ambitions as CEO departs

Magellan’s Andrew Formica has ditched outgoing chief executive David George’s ambition to restore the manager to $100 billion as he searches for a new CEO.

  • Jonathan Shapiro
CEO Joseph Healy said that he wanted “nothing more than to see the share price improve”.

Judo chairman lashes investors for tanking share price

Peter Hodgson said the board was “taken aback” by the falls, and attacked “short-term vicissitudes” in the market.

  • Lucas Baird
The USS Canberra arrives in Sydney after a month-long journey from its base in San Diego. It is only the second US naval ship to be named after a non-American city.

Former JPMorgan banker launches $157m AUKUS fund

Technology start-ups in defence are capitalising on heightened geopolitical tensions, and fund managers are jumping in.

  • Matthew Cranston

The favourite lunch spots of Sydney’s top bankers

End-of-deal lunches are thinner on the ground these days, but still, bankers have to eat. Here are their top lunch spots in Sydney.

  • Aaron Weinman and Jemima Whyte

This Month

RBA governor Michele Bullock made her maiden speech as governor in Sydney on Tuesday night.

Bullock squares up for inflation fight in first speech

It took only two minutes for Michele Bullock to refer back to Philip Lowe’s warning about high inflation. She is staying the course.

  • Anthony Macdonald
Westpac’s economic team, now led by Luci Ellis, expects the Reserve Bank will keep rates on hold until next June.

The next RBA rate move will be down, says Westpac

The next move in interest rates will be down, says the bank’s economics team, which is now led by a highly regarded former Reserve Bank assistant governor.

  • Karen Maley
Greensill Capital

IAG to be hit with more Greensill-related insurance claims

US financier White Oak will allege that the insurers became aware in early-to-mid 2020 that there was, or might be, a problem with some policies.

  • Jenny Wiggins and Liam Walsh
Bendigo Bank said it will pursue organic growth in Queensland.

New Bendigo chairman not giving up on Queensland dream

David Foster, a former boss of Suncorp Bank, has taken the chairman’s seat at Bendigo and Adelaide Bank, and remains keen to grow in regional Queensland.

  • James Eyers
Jefferies banking analyst Brian Johnson.

MST Financial signs veteran banking analyst Brian Johnson

Long-serving banking analyst has resurfaced six months after he left US investment bank Jefferies.

  • Sarah Thompson, Kanika Sood and Emma Rapaport
There are three Australian IPOs in front of investors this week, but they are all on the small side.

Two things holding back Australia’s IPO market

It’s another year of what could have been for new listings on the ASX. The only way to end the drought is to cut prices.

  • Anthony Macdonald
Will Farrant is joining Ares Management.

Credit giant Ares hires new partner

Street Talk can reveal Credit Suisse’s head of asset finance for Asia Pacific, Will Farrant, has joined the US investment firm as a partner in its credit group.

  • Sarah Thompson, Kanika Sood and Emma Rapaport
John Neal sees demand for cyber and intellectual property insurance on the rise.

Think geopolitics is risky now? Insurance guru John Neal says just wait

A slew of huge elections in 2024 is heightening risks for corporates, according to former QBE and current Lloyd’s of London boss John Neal.  

  • James Thomson