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 launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
