Firstfolio chief executive resigns


Specialist mortgage and financial services company Firstfolio has announced the resignation of chief executive and managing director Mark Forsyth.
Since joining the company in 2006, Forsyth has restructured the group's operations to support growth in the loan portfolio from $1 billion to more than $21 billion, Firstfolio stated.
Also under his leadership, the company completed a series of acquisitions, including online mortgage company eChoice as well as a joint venture with specialist financial products provider Evergreen Finance Company.
Firstfolio has appointed current executive director Mack Flack as acting CEO.
Recommended for you
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With wealth management M&A appetite only growing stronger, Business Health has outlined the major considerations for buyers and sellers to prevent unintended misalignment between the parties.
Industry body SIAA has said the falling number of financial advisers in Australia is a key issue impacting the attractiveness and investor participation of both public and private markets.