Morale among the staff at The Australian Financial Review has been given a big whack by the poaching of long time staffer John Stensholt by The Australian. The hiring was revealed in an announcement in the Weekend Australian and the paper made it clear it would be using his talents to beef up its coverage of the wealthy, which the AFR has had a lock on for years. Stensholt had been head of the AFR’s Rich List (inherited from the old BRW Rich List) which is a goldmine so far as advertising, stories and contacts are concerned.

The Oz said Stensholt “will head up a new unit dedicated to developing content about Australia’s most successful companies and individuals”. One of the areas for Stensholt is to develop lists -- a rival for the Rich List is on the cards. The next AFR Rich List is due late next month and is all but finished, except for the last round of checking, editing, etc.