Latest Financial Services News

Tower Limited has confirmed Paul Johnston as its permanent CEO after a successful interim period, while initiating a search for a new CFO to sustain its financial leadership.

ARC Funds Limited plans to acquire the remaining 36.51% stake in The Term Deposit Shop, offering new ARC shares in exchange. This move aims to consolidate ownership and accelerate growth leveraging TTDS’s $530 million Funds under Management.

Helia Group announces the departure of CEO Pauline Blight-Johnston after five years, appointing CFO Michael Cant as interim CEO amid evolving market conditions. The leadership change signals a strategic pivot for the lender mortgage insurer.

Zip Co Limited has raised its FY25 cash EBTDA guidance to at least $160 million, driven by robust transaction growth in the US market exceeding 40% year-on-year in May 2025. The company also continues its share buy-back program amid steady credit performance.

FinTech HQ Pty Ltd, the second largest shareholder in NSX Limited, has declared its intention to support the proposed acquisition by the Canadian Securities Exchange, pending no better offers emerge.

Platinum Investment Management reported significant net outflows of approximately $1.6 billion in May 2025, driving funds under management down to $8.34 billion from $9.65 billion the previous month.

Genetic Technologies Limited has signed binding term sheets to acquire Ellerfield Wealth and Walker Capital, marking a strategic shift into wealth management backed by a $7.8 million valuation and pending ASX approvals.

Queste Communications reported a $3 million inflow from an iron-ore royalty termination in May 2025, bolstering its cash reserves to over $4 million despite ongoing operating cash outflows.

Tyro Payments has announced the resignation of CEO Jon Davey, who will remain for up to six months to ensure a smooth leadership transition. Davey’s tenure saw significant transformation and strategic groundwork for future expansion.

Powerhouse Ventures Limited has issued its first-ever cash profit guidance for FY25, signalling a pivotal shift towards self-sustaining operations backed by strong corporate advisory and treasury performances.

Income Asset Management Group has posted a record revenue month in May 2025, driving strong quarter-to-date growth and expanding its funds under advice by 28% year-on-year.

QuickFee Limited has completed a significant A$118 million debt refinancing and successfully raised A$1.25 million through a share placement, alongside announcing a new Share Purchase Plan to support its expansion in the US and Australian markets.