Sean Rothsey has stepped down as chairman and as a director of MDS Financial Group after more than five years in the position.
The role of chairman has since been filled by Wayne Johnson, previously deputy chairman and executive director.
During his tenure, Rothsey oversaw the expansion of the group from a data and software business to a full-service corporate advisory and capital markets specialist.
He also oversaw the acquisition of stockbroking service provider Trader Dealer Online and the assets of collapsed firm Minc Financial Services.
According to Johnson, Rothsey's work in diversifying revenue streams through difficult market conditions and changing compliance regimes has left MDS in a strong position for future growth.
Rothsey will also remain a substantial shareholder and will continue his interest in the development of the group, its staff and stakeholders, Johnson added.
"We fully respect his decision, which is predicated on his desire for both superior corporate governance and leadership that he feels he cannot provide with his prolonged overseas absences," he said.
