Austock announces senior management changes
Following Austock Funds Management’s (AFM) recent announcement that its chief executive and managing director, Vin Harink, would be stepping down from the roles, the financial services group has made a number of key appointments.
As well as assuming overall management responsibility for AFM’s Api Fund, Ian Townsing has been appointed as a director of AFM.
Vic Cottren has been appointed as acting chair of AFM while Mike McFarlane is on leave for two months, and Craig Thompson has been appointed chief operating office of the Austock Property group of companies, which includes AFM.
Harink was appointed chief executive of Austock Property Funds Management in 2005 and has overseen the recent proposed merger of the Api Fund and the Australian Social Infrastructure Fund.
The transaction did not receive full shareholder approval and the Api Fund is still under voluntary suspension.
Harink has since moved into the Austock Group to assist with internal merger and acquisition projects.
Recommended for you
ASIC has cancelled a Sydney AFSL for failing to pay a $64,000 AFCA determination related to inappropriate advice, which then had to be paid by the CSLR.
A former Brisbane financial adviser has been charged with 26 counts of dishonest conduct regarding a failure to disclose he would receive substantial commission payments for investments.
Inefficient data processes and systems mean advisers are spending over half of their time on product implementation and administration at the expense of clients, according to research.
With the regulator announcing its enforcement focus for 2025 last week, law firm Hall & Wilcox examines the areas which have dropped down the list in priority for the regulator.
