MDS adopts Sequoia brand
MDS Financial Group subsidiaries will rebrand under the company's new name, Sequoia Financial Group Limited, in 2016, after shareholders backed the name change.
The publicly listed company revealed that the name change has been finalised with Australian Securities and Investments Commission (ASIC), while it has started using its new Australian Securities Exchange (ASX) code, SEQ, today.
Sequoia managing director, Scott Beeton, said shareholders ratified the change at the company's annual general meeting on 27 November.
"I am confident that this name change represents the start of an exciting new chapter in the company's history, and one that will build on the positive progress we have made over the year," he said.
"We have worked extremely hard to streamline operations and lower overheads across the entire business, while also strengthening revenues and driving growth. The ongoing growth that we are now seeing in every business division is particularly encouraging.
"With a broad suite of product and service offerings across the wealth management and financial service sectors, further enhanced with the acquisition of Sequoia Wealth Group, the company is now well positioned to leverage this platform and unlock potential value.
"I look forward to updating shareholders on the roll out of our rebranding program, along with progress across all business divisions with our quarterly report in late January 2015."
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.
