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Jonathan Shapiro

Jonathan Shapiro

Financial Review

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Six observations about the cultural failings in ANZ’s markets unit

Disgruntled employees are being interviewed about a problematic workplace culture at the same time as the bank is telling them about their annual...

08.12.2024 10

Financial Review

Jonathan Shapiro

D-day for bank hybrids draws a line under divisive APRA process

The prudential regulator is due to give the market an update on whether it will kill bank hybrids. Some people wonder whether it has gone too far.

01.12.2024 10

Financial Review

Jonathan Shapiro

The country’s big super funds are preparing to hit global risk limits

As they grow, funds have no choice but to send more of their member capital offshore. But that comes with challenges that they may simply be unable to...

24.11.2024 20

Financial Review

Jonathan Shapiro

Global fundies gather in Sydney as world order reshapes in real time

Sydney is crawling with fundies and traders who are trying to work out how to position their books and build their portfolios in the age of Donald...

10.11.2024 20

Financial Review

Jonathan Shapiro

Why Vanguard is coming for your super

Vanguard is a $14 trillion goliath in global asset management, but it’s a $2 billion upstart in Australian superannuation with grand plans.

29.10.2024 10

Financial Review

Jonathan Shapiro

When the ‘founder premium’ becomes a discount

The lesson from a week of governance chaos is that companies with founders at the helm may be more likely to succeed, but they are by no means...

27.10.2024 6

Financial Review

Jonathan Shapiro

Perpetual board fails to show the slightest contrition for failures

There have been plenty of governance fails among ASX-listed companies. But the speed and scale of wealth destruction at Perpetual ranks it among the...

20.10.2024 10

Financial Review

Jonathan Shapiro

Have Australian fund managers got their lithium call wrong?

Rio Tinto’s $10 billion Arcadium Lithium takeover has the bulls excited again. But hedge funds believe the move signals a major shake-up and more...

20.10.2024 10

Financial Review

Jonathan Shapiro

How the big banks got out of Canberra’s line of fire

The big four bank chiefs can stride confidently into the capital. Perhaps the supermarkets, now under attack, can learn something from their...

06.10.2024 8

Financial Review

Jonathan Shapiro

Markets are on their best behaviour as the bulls take charge

The Fed is cutting interest rates and China’s policymakers are pumping its economy with money. Is there anything standing in the way of global...

30.09.2024 4

Financial Review

Jonathan Shapiro

Want a roll-up play that actually works? Try software, for now

Two billionaires and their companies – Canada’s Constellation and ASX-listed WiseTech – have soared in the past decade. Others worry things are...

22.09.2024 10

Financial Review

Jonathan Shapiro

The Future Fund’s big hedge fund bets are paying off

In a horror year for active funds management, the $225 billion sovereign wealth fund has made a big bet on stock picking – and the results are...

08.09.2024 8

Financial Review

Jonathan Shapiro

Bullock fights her own war

RBA governor Michele Bullock took to the podium on Thursday on a mission to avoid a war of words with the treasurer.

05.09.2024 9

Financial Review

Jonathan Shapiro

What scandal? Elliott doubles down on minimising bond trading fallout

Shayne Elliott is steadfast in his position that ANZ hasn’t done all that much wrong. It’s a familiar stance, but this time he better be right.

01.09.2024 10

Financial Review

Jonathan Shapiro

For industry super boards, suitability and skill should trump all

The CFMEU scandal has forced the prudential regulator’s hand on union board representation at industry superannuation funds.

14.08.2024 7

Financial Review

Jonathan Shapiro

RBA at odds with the market and the world

A panicked market is convinced the central bank faced a simple choice to prepare for interest rate cuts. Its staffers clearly don’t see it that way...

06.08.2024 8

Financial Review

Jonathan Shapiro

ANZ’s bond trading scandal is now too serious to contain

An update on Thursday reveals that the bank and its board are under no illusions about the consequences they may face from the escalating markets...

25.07.2024 10

Financial Review

Jonathan Shapiro

Blackstone’s mega private credit deal is a sign of the times

Private credit funds are the solution for private equity’s problems. But can the good times last for Wall Street’s hottest sector? Blackstone...

23.06.2024 10

Financial Review

Jonathan Shapiro

What IPO disasters tell us about Guzman y Gomez’s $2.2b float

The Mexican fast-food chain float has split opinions among Sydney’s investing community, and revealed the deep scars inflicted by failed floats of...

18.06.2024 4

Financial Review

Jonathan Shapiro

ANZ has a lot at stake as ASIC crawls over its bond trading activities

The rumblings in the market are that the investigation is making those on all levels of the bank uneasy. If it isn’t, it really should be,...

08.06.2024 10

Financial Review

Jonathan Shapiro

How Boomers are busting hopes for rate cuts

Macro commentator James Aitken says interest rates may have to head higher after we underestimated the increasingly powerful wealth effect.

28.04.2024 70

Financial Review

Jonathan Shapiro

James Mawhinney’s surveillance game of cat and mouse

While the Financial Review was following James Mawhinney’s investment schemes, it turns out he was trying to follow us.

14.04.2024 30

Financial Review

Jonathan Shapiro

Reserve Bank ponders the market plumbing

The Reserve Bank board is repurposing the financial system as its cheap pandemic funding is flushed out. It’s doing it as financial markets are only...

02.04.2024 10

Financial Review

Jonathan Shapiro

Corporate Travel and Reece trip up traders in wild reporting season

They are two very different companies. But the difference between earlier remarks and their final results set the scene for massive share price...

03.03.2024 20

Financial Review

Jonathan Shapiro

There’s a new monetary order – will it be cruel or kind to our banks?

Much has changed since the global financial crisis and after a decade of low interest rates. Major lenders won’t be able to rely on what worked in...

18.02.2024 90

Financial Review

Jonathan Shapiro

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