McDonald departs in Snowball integration
Snowball chief executive Tony McDonald will depart the company on 4 October 2012 as part of the integration between Snowball and Shadforth, the company announced.
Until that time, McDonald will focus on integration and related initiatives, according to a statement to the Australian Securities Exchange.
McDonald's new role as executive director, integration projects, includes assisting the group to manage the responses to Future of Financial Advice reforms, Snowball stated.
The group also announced chairman Eric Dodd was being appointed chair of Shadforth Financial Group, non-executive director Graham Maloney would chair portfolio management business Officium Capital and fellow director John Gannon would chair affiliate licensee advice business Western Pacific.
The company will also seek shareholder approval at the 29 November annual general meeting to change the group's name to SFG Australia.
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.
