Austock chairman steps down
Austock Funds Management has announced the resignation of its director and chairman, Michael McFarlane, for personal reasons.
In a statement released to the Australian Stock Exchange (ASX), the Austock board acknowledged the contribution by McFarlane as chairman and said the search for a new independent, non-executive chairman was underway.
In the meantime, current acting chairman Vic Cottren will continue in the role.
Prior to joining Austock in 2006, McFarlane was the executive director and property funds management specialist for Macquarie Bank. He was the initiator and a founding director of Macquarie’s first listed property trust and the Macquarie CountryWide Retail Trust, as well as a director or alternate director for many of its other listed property and infrastructure trusts.
Austock is the responsible entity for the Api Fund.
Recommended for you
Money Management examines the share price of financial advice licensees over one year to 31 March, with M&A actions in the final quarter having a positive effect for two licensees.
A $3.5 million settlement for victims of Melissa Caddick has been approved by the Federal Court following an initial agreement last December.
The Reserve Bank of Australia has delivered its first rate decision since the introduction of a new board structure last month.
Digital advice provider Otivo has launched an interactive tool, powered by artificial intelligence and Otivo’s own advice engine, to help answer client questions.