New CEO for MFS
Diversified financial services group MFS Limited has appointed Craig White as its new chief executive officer following the resignation earlier today of Michael King.
King resigned this morning following the slide in the value of MFS shares, which followed the announcement of a strategy to separate the company’s hospitality and financial services arms and undertake a capital raising.
White was previously the deputy chief executive and has significant experience in the funds management sector.
The company said King had “voluntarily forgone his right to be paid compensation and entitlements under his service agreement following his resignation”.
City Pacific earlier today announced that it had withdrawn a merger offer involving the financial services arm of MFS.
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.
