Senior reporter Jemima Whyte on the audacious rise of Barrenjoey, the first Australian investment bank since Macquarie, why its attracted controversy and what's next as deals stall and the era of cheap money ends.

Background reading

• Barrenjoey costs soar The group said $44.4 million of “establishment costs” were incurred for the year, on top of operating expenses of more than $200 million.
• How to build an investment bank after a false start The key meeting in the establishment of Barrenjoey – which has stoked envy, frustration and fascination in equal measure among rivals – was one that occurred quietly.
• Australia’s top five deal makers in 2022 There’s plenty of work to go around, but the cream of the crop in the investment banking sector emerged in the past year.