Daily Dispatches: Suncorp staff suffer salary botch

Suncorp has suffered a hiccup to its internal restructuring program after a new payroll system failed to deliver accurate paychecks to hundreds of personal insurance staff. In an internal memo seen by The Courier-Mail, Suncorp's personal insurance head Mark Milliner apologises for the inconvenience and being "slow to communicate about the impact". (News.com.au)

New York-based investment bank Moelis & Co has named Andrew Pridham as head of investment banking for its recently-established Australian business. It also named John Steinthal as head of equities in Australia. Pridham was most recently executive chairman for investment banking at JPMorgan Australia, while Steinthal was most recently co-founder and principal of Edward Baillie Capital. (The Australian)

One week after a former Macquarie fund manager was stopped from fleeing the country, another ex-employee has pleaded guilty to market manipulation. Former Macquarie broker Newton Chan pleaded guilty to eight counts of market manipulation on Friday involving stock trades worth more than $6.1m, the Australian Securities and Investments Commission said in a statement today. (The Age)