FIIG looks for new CEO
Fixed income broker FIIG Securities has announced the appointment of founding director Jim Stening as acting managing director effective immediately, pending the appointment of a new chief executive.
The company said the appointment followed the decision by current managing director and CEO, Mark Paton to step down from the role.
It said Paton and the board were exploring a potential role at Gieldan Capital, the alternate debt joint venture between FIIG and MH Carnegie.
Stening founded FIIG in 1998 and was the managing director of the company for approximately 14 years before being replaced by Paton and moving to a non-executive director role.
The company's announcement said the board had engaged an executive search firm to commence the process of appointing a new CEO.
Recommended for you
Some 42 per cent of CEOs say they are actively reinventing their business to stay relevant in the next decade, with consumer services the most common choice for asset and wealth managers.
Former Ophir Asset Management chief executive, George Chirakis, has joined private equity manager Scarcity Partners, while the asset manager has appointed a replacement from Macquarie.
Australian Unity has appointed a fund manager for its Healthcare Property Trust, joining from Centuria Healthcare, as it restructures the product with a series of senior appointments.
Financial advisers nervous about the liquidity of private markets funds for their retail clients are the target of fund managers launching semi-liquid products which offer greater flexibility and redemptions.
