Investment Banking News

Investment Banking News

ASX names new CFO

Posted by Anton Murray Consulting on . Posted in Investment Banking News

InvestorDaily

The former CFO of Challenger is joining the stock exchange operator. ASX has announced the appointment of Andrew Tobin as its new chief financial officer (CFO) following the departure of current CFO Gillian Larkins at the end of August. Mr Tobin served as the CFO of Challenger between 2012 and 2021, where he was responsible for a number of operational areas including finance, investor relations, treasury, operations and information technology.

He was previously deputy CFO at the investment management firm between 2007 and 2012 and has also held roles at the Commonwealth Bank, MLC and KPMG. “Andrew is an accomplished CFO and executive leader with more than 30 years’ experience in various group finance and audit roles in Australia and Asia. He is an excellent addition to our team,” said ASX MD and CEO Helen Lofthouse. “His ability to think strategically and commercially, his partnership approach, and extensive expertise in financial markets and listed companies will add depth to the executive team and enhance our leadership culture.”

The rest of this article can be found at investordaily.com.au.

Perpetual and Pendal reach acquisition agreement

Posted by Anton Murray Consulting on . Posted in Funds Management News

InvestorDaily

Perpetual has announced the acquisition of Pendal. Following an unsuccessful acquisition offer in April, Perpetual said on Thursday it has entered into a binding scheme implementation deed with Pendal under which it intends to acquire 100 per cent of shares in the investment manager. The acquisition is expected to create a leading global asset manager with significant scale and pro-forma assets under management of $201 billion.

Pendal shareholders will receive one Perpetual share for every 7.50 Pendal shares plus $1.976 cash per Pendal share. This implies an offer price of $6.02 for each Pendal share based on Perpetual’s closing price on Wednesday. As such, Perpetual and Pendal shareholders are expected to own approximately 53 per cent and 47 per cent respectively of the combined group shares on closing, based on the current number of shares outstanding. Tony D’Aloisio, current chairman of Perpetual and future chairman of the combined group said: “We are pleased that Pendal’s board of directors has unanimously recommended that Pendal shareholders vote in favour of the scheme, in the absence of any superior proposal and subject to the independent expert’s opinion that the scheme is in the best interests of shareholders.”

The rest of this article can be found at investordaily.com.au.

BlackRock adds APAC head of research to sustainable investing team

Posted by Anton Murray Consulting on . Posted in Investment Banking News

InvestorDaily

BlackRock has appointed Elaine Wu to the newly created role of APAC head of research for BlackRock Sustainable Investing (BSI APAC). Ms Wu has over 14 years of experience in equity research in the APAC region, and was most recently head of Asia ex-Japan ESG and utilities equity research at J.P. Morgan, where she is said to have been first to spearhead an ESG research for the firm. While initially focusing on climate transition and energy value chain throughout Asia, her research has expanded across markets and sectors.

She has earned first place ESG Analyst ranking in the Institutional Investor All-Asia Research Poll, and recognitions in Greenwich and the Thomson Reuters Asia Analyst Awards. Prior to J.P. Morgan, Ms Wu also previously held roles at Nomura and Lehman Brothers. As APAC head of research, BlackRock said that Elaine will drive the research agenda for BSI APAC and oversee the firm’s sustainability research across the region.

The rest of this article can be found at investordaily.com.au.

Challenges of investing in renewable energy infrastructure

Posted by Anton Murray Consulting on . Posted in Investment Banking News

InvestorDaily

With most of the developed world experiencing an energy crisis of varying degrees, investing in renewable energy has never been more in focus. The investment opportunity is expanding due to the soaring costs of fossil fuel and various government and corporates’ long-term commitments to decarbonise. Also, accelerating investments in renewable energy is seen as Europe’s path to energy independence.

As Kwasi Kwarteng, the UK Secretary of State for Business, recently said: “This is no longer about tackling climate change or reaching net zero targets. Ensuring the UK’s clean energy independence is a matter of national security”. The European Commission also outlined the REPowerEU Plan, in response to the global energy market disruption caused by Russia’s invasion of Ukraine and is seeking to reduce its dependency on Russian gas and oil.

The rest of this article can be found at investordaily.com.au.

ASX reports ‘solid’ full-year result, admits ‘disappointment’ over CHESS delay

Posted by Anton Murray Consulting on . Posted in Investment Banking News

InvestorDaily

The stock exchange operator posted revenue growth of 7.5 per cent. ASX has announced a “solid” result for FY22 with a 7.5 per cent increase in operating revenue to $1.02 billion and a 5.7 per cent lift in net profit after tax to $508.5 million. In its full-year results released on Thursday, ASX reported that its earnings before interest and tax had risen 7.5 per cent to $689.2 million while its earnings per share and dividends both lifted 5.7 per cent in line with net profit.

Commenting on the results, ASX MD and CEO Helen Lofthouse said that the company had continued to benefit from its diversified business model. “We saw decade-high levels of listings activity, particularly in the first half, with 217 new listings in the period — the highest number since FY08. And the total amount of capital raised increased 56 per cent to $159.4 billion (excluding the BHP capital unification), a new record overall,” she said. “The markets business benefited from higher equity trading activity and demand for commodities products. However, this was partly offset by the impact of the lower interest rate environment on futures volumes. On-market equity trading increased, with a daily average value across the period of $6.7 billion, up 15 per cent.”

The rest of this article can be found at investordaily.com.au.

Jameson Capital names first COO

Posted by Anton Murray Consulting on . Posted in Investment Banking News

InvestorDaily

Jameson Capital has announced the appointment of senior finance and private equity specialist Philippa Davies as its first COO. Ms Davies has 16 years of experience in the industry and most recently worked as chief of staff at London-based private equity firm, Terra Firma, where she was involved in running the firm’s day-to-day operations while working closely with senior management on the ongoing strategic and operational changes within its portfolio businesses. She previously held multiple positions at KPMG Australia and the UK over 14 years, including a leadership role in KPMG London’s deal strategy and value creation team, in the private equity transactions team in London and as an audit manager in Melbourne.

“We are excited to welcome Philippa to the firm as our first chief operating officer. Her experience in private equity and senior finance across Australia and the UK will be invaluable,” said Jameson Capital co-founder and director Jonathan Webster. As COO, Jameson Capital said that Ms Davies would oversee the finance function, including compliance management and investor reporting, and will assist its founding directors Nick Browne and Jonathan Webster in spearheading the next stage of the firm’s growth.

The rest of this article can be found at investordaily.com.au.

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