This profit season shows the real peril of empire-building founders

Key man risk, conflicts of interest, a disregard for rules and accounting issues. Entrepreneurial executives can make investors a motza – or cost...

latest 1

Joyce Moullakis

ASIC’s inquiry into the ASX hit a speed bump, but work is ramping up

The panel, examining governance, capability and risk management, has overcome the reluctance of at least one former executive – Dominic Stevens –...

25.08.2025 4

Joyce Moullakis

Disarray under the hood: Bapcor must answer the tough questions

It is becoming harder to see how the company, whose brands include Autobarn, Autopro, Burson and Midas, can get firing again.

22.08.2025 20

Joyce Moullakis

Could CBA’s powerhouse retail arm be usurped as its big profit driver?

The bank, led by chief executive Matt Comyn, is strategically ramping up its focus in other higher-returning areas as part of a longer-term play,...

16.08.2025 10

Joyce Moullakis

Macquarie spent $2.3b on tech in a year. But was it bang for buck?

As well as pay and culture, shareholders are closely scrutinising the board’s credentials and whether the group’s issues are partly linked to its...

11.08.2025 10

Joyce Moullakis

Do the ASX’s woes make the case for another financial system inquiry?

The exchange was dithering and scrambling this week to resolve an issue of its own making. In 2021 too, it was left embarrassed by an inadvertent...

08.08.2025 3

Joyce Moullakis

The Financial Accountability Regime’s laughable track record

The FAR was legislated as a tough measure to ensure our financial sector wouldn’t again be stained by rampant wrongdoing. In practice, it’s not...

03.08.2025 10

Joyce Moullakis

ASX seeks to calm investor anger with changes to listing rule waivers

The exchange’s sweeping review is taking shape and a consultation paper will be ready for discussion soon. It can’t come early enough for...

28.07.2025 9

Joyce Moullakis

Macquarie should do better than a tokenistic rap of the knuckles

There was ample opportunity for chairman Glenn Stevens to dish out some real executive accountability. He didn’t. Will 2026 be different, asks Joyce...

25.07.2025 10

Joyce Moullakis

Apple Pay at risk as end of card reward programs as we know them looms

RBA proposals to change how credit card payment processing is paid for blindsided banking executives last week, writes Joyce Moullakis. The pushback...

21.07.2025 10

Joyce Moullakis

In the lapse of luxury, what of Cettire’s future?

All options are likely on the table at Cettire, including being taken private, as the high-end luxury market is buffeted by slower consumer demand.

18.07.2025 4

Joyce Moullakis

Will equity analysts be replaced by AI? That’s a billion-dollar question

Disruption is upon them and fund managers and investment banks, including Macquarie, are trying to get ahead of the trend, writes Joyce Moullakis.

17.07.2025 10

Joyce Moullakis

Death knell for surcharges risks plenty of unintended consequences

How the RBA’s proposed changes work for businesses will rely on banks and terminal operators passing through lower fees. Will they?

15.07.2025 6

Joyce Moullakis

We need an alternative to 10-year board limits for directors

APRA should ramp up enforcement measures and ensure board accountability rather than increasing the compliance burden for non-executive directors.

13.07.2025 10

Joyce Moullakis

Stubborn PE firms get stuck with non-bank lenders on their books

From La Trobe Financial to Pepper, there’s plenty of interest in the sector. But unrealistic expectations are getting in the way of real dealmaking.

11.07.2025 9

Joyce Moullakis

RBA’s rate pause delivers banks reprieve, but margin pressure remains

It is still a matter of when, not if, official rates fall further. And lenders have a terrible track record in passing on cuts.

08.07.2025 10

Joyce Moullakis

The problem with our kids that should be on the productivity agenda

Jim Chalmers is considering long-term policy measures to buoy the economy. They must include addressing startlingly low financial literacy levels.

29.06.2025 20

Joyce Moullakis

Insurers will use AI to scan your vitals. This is good

An app can take less than a minute to measure your blood pressure and take your heart and respiration rate. But what about data privacy and security?

23.06.2025 10

Joyce Moullakis

ASIC inquiry a ticking time bomb for ASX chief Helen Lofthouse

It is likely to be well into next year before market participants see workable recommendations and any detailed regulatory response from the latest...

16.06.2025 3

Joyce Moullakis

Anxious wait for ASIC’s private markets, IPO shake-up

The regulator should clarify its policy positions this year, rather than letting the talkfest drag on. Some clues should emerge this week.

01.06.2025 9

Joyce Moullakis

Big super mergers create havoc for fundies as mandates get yanked

It’s clear the days of investment managers raking in easy money ended long ago. And some of the best-known firms are getting hit hardest as demand...

31.05.2025 10

Joyce Moullakis

Jim Chalmers must get back to the drawing board on super tax measures

Tinkering in the wrong way with the superannuation system to bolster the tax intake is dangerous. AMP’s Alexis George urges a government rethink,...

26.05.2025 8

Joyce Moullakis

Big banks brace for a wave of executive changes, starting next week

Westpac’s board and chief executive Anthony Miller are set to decide who will lead its retail banking division, with domestic and international...

24.05.2025 3

Joyce Moullakis

Macquarie showed ‘unhealthy arrogance’ on risk. Until this happened

The confrontational approach taken with the markets disciplinary panel and ASIC contrasted with Macquarie’s engagement with regulators in the UK...

16.05.2025 8

Joyce Moullakis

Australia’s credit rating comes back into focus

Our major banks are among the biggest financial institution borrowers in the world, tapping global markets for about $30 billion to $40 billion every...

09.05.2025 8

Joyce Moullakis

Has Macquarie lost its risk management mojo? This is a wake-up call

The group’s longstanding track record as a prudent risk manager has been tarnished and ASIC’s missive should reverberate through the organisation.

07.05.2025 4

Joyce Moullakis

Mortgage market set for sweeping change, distortion as election looms

The pork-barrelling measures will likely spur house price growth as demand climbs, while knock-on effects will hit the lenders mortgage insurance...

17.04.2025 10

Joyce Moullakis

ASX is facing a perfect storm. What’s it going to take to fix things?

The operator of the nation’s market infrastructure finds itself in a farcical and unacceptable position. Hopefully, it can heed the messages being...

11.04.2025 10

Joyce Moullakis

Severe financial markets instability makes picking the trough elusive

Even veterans like Ellerston’s Ashok Jacob are having difficulty picking the bottom, as the seesawing in financial markets continues amid extreme...

08.04.2025 4

Joyce Moullakis

How Europe deals with Trump tariffs will be the market’s next test

The White House’s ‘liberation day’ is turning into a week of value destruction – and all eyes are on Europe as it draws up a hit list of US...

07.04.2025 10

Joyce Moullakis

Time is running out and ASX boss Helen Lofthouse has no room for error

Any spike in trading volumes due to higher volatility and wild swings will heap pressure on the exchange, which is already navigating a regulatory...

06.04.2025 7

Joyce Moullakis

Executive changes disrupt big banks as BoQ sounds out CEO candidates

The musical chairs have started one rung down from the big banks’ top jobs, and everyone is looking for new hires. When will the music stop?

30.03.2025 6

Joyce Moullakis

Unpicking David Di Pilla’s HMC Capital is no easy feat

There’s little doubt the investment manager’s metrics and structure – from fund management charges to fees for acquiring assets – push the envelope.

24.03.2025 10

Joyce Moullakis

Unpicking David Di Pilla’s HMC Capital is no easy feat

There’s little doubt that the investment manager’s metrics and structure – from fund management charges and fees for acquiring assets – push...

23.03.2025 8

Joyce Moullakis

It’s the private credit liquidity trap that poses real investor risk

It’s an interesting time for Brookfield-owned lender and real estate private credit firm La Trobe Financial to kick off a sale process for the...

21.03.2025 8

Joyce Moullakis

APRA hasn’t read the room on board governance overhaul

A better option for the regulator would be to improve enforcement efforts, rather than increasing the compliance and governance burden on directors...

18.03.2025 10

Joyce Moullakis

Surging super sector needs right regulatory settings

02.03.2025 4

Joyce Moullakis

ASX, ASIC must respond to the decline in listed companies

02.03.2025 10

Joyce Moullakis

Brookfield’s assessment of La Trobe sale to come to a head

23.02.2025 10

Joyce Moullakis

Debate on payment card surcharges to heat up

16.02.2025 9

Joyce Moullakis

Bain Capital drafts in former Insignia boss on bid team

10.02.2025 10

Joyce Moullakis

Strap in for a frenetic February

10.02.2025 10

Joyce Moullakis

Incoming CEO Matos flies under radar to meet ANZ team

03.02.2025 9

Joyce Moullakis

‘Laughing stock’: ASX to issue mea culpa on embarrassing outage

20.01.2025 9

Joyce Moullakis

CC Capital seeks to exploit deal angles with personal touch

20.01.2025 7

Joyce Moullakis

Big shoes to fill in search for NAB’s next chair

12.01.2025 10

Joyce Moullakis

‘Laughing stock’: ASX jumping from one crisis to the next

23.12.2024 6

Joyce Moullakis

It’s unfathomable ANZ didn’t halt charging fees to dead customers

19.12.2024 4

Joyce Moullakis

Jury’s out on benefits of super funds’ internal management

15.12.2024 5

Joyce Moullakis

Energy transition needs a balanced, long-term approach

01.12.2024 3

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This profit season shows the real peril of empire-building founders

Joyce Moullakis

ASIC’s inquiry into the ASX hit a speed bump, but work is ramping up

Joyce Moullakis

Disarray under the hood: Bapcor must answer the tough questions

Joyce Moullakis

Could CBA’s powerhouse retail arm be usurped as its big profit driver?

Joyce Moullakis

Macquarie spent $2.3b on tech in a year. But was it bang for buck?

Joyce Moullakis

Do the ASX’s woes make the case for another financial system inquiry?

Joyce Moullakis

The Financial Accountability Regime’s laughable track record

Joyce Moullakis

ASX seeks to calm investor anger with changes to listing rule waivers

Joyce Moullakis

Macquarie should do better than a tokenistic rap of the knuckles

Joyce Moullakis

Apple Pay at risk as end of card reward programs as we know them looms

Joyce Moullakis

In the lapse of luxury, what of Cettire’s future?

Joyce Moullakis

Will equity analysts be replaced by AI? That’s a billion-dollar question

Joyce Moullakis

Death knell for surcharges risks plenty of unintended consequences

Joyce Moullakis

We need an alternative to 10-year board limits for directors

Joyce Moullakis

Stubborn PE firms get stuck with non-bank lenders on their books

Joyce Moullakis

RBA’s rate pause delivers banks reprieve, but margin pressure remains

Joyce Moullakis

The problem with our kids that should be on the productivity agenda

Joyce Moullakis

Insurers will use AI to scan your vitals. This is good

Joyce Moullakis

ASIC inquiry a ticking time bomb for ASX chief Helen Lofthouse

Joyce Moullakis

Anxious wait for ASIC’s private markets, IPO shake-up

Joyce Moullakis

Big super mergers create havoc for fundies as mandates get yanked

Joyce Moullakis

Jim Chalmers must get back to the drawing board on super tax measures

Joyce Moullakis

Big banks brace for a wave of executive changes, starting next week

Joyce Moullakis

Macquarie showed ‘unhealthy arrogance’ on risk. Until this happened

Joyce Moullakis

Australia’s credit rating comes back into focus

Joyce Moullakis

Has Macquarie lost its risk management mojo? This is a wake-up call

Joyce Moullakis

Mortgage market set for sweeping change, distortion as election looms

Joyce Moullakis

ASX is facing a perfect storm. What’s it going to take to fix things?

Joyce Moullakis

Severe financial markets instability makes picking the trough elusive

Joyce Moullakis

How Europe deals with Trump tariffs will be the market’s next test

Joyce Moullakis

Time is running out and ASX boss Helen Lofthouse has no room for error

Joyce Moullakis

Executive changes disrupt big banks as BoQ sounds out CEO candidates

Joyce Moullakis

Unpicking David Di Pilla’s HMC Capital is no easy feat

Joyce Moullakis

Unpicking David Di Pilla’s HMC Capital is no easy feat

Joyce Moullakis

It’s the private credit liquidity trap that poses real investor risk

Joyce Moullakis

APRA hasn’t read the room on board governance overhaul

Joyce Moullakis

Surging super sector needs right regulatory settings

Joyce Moullakis

ASX, ASIC must respond to the decline in listed companies

Joyce Moullakis

Brookfield’s assessment of La Trobe sale to come to a head