New CEO for MFS
Diversified financial services group MFS Limited has appointed Craig White as its new chief executive officer following the resignation earlier today of Michael King.
King resigned this morning following the slide in the value of MFS shares, which followed the announcement of a strategy to separate the company’s hospitality and financial services arms and undertake a capital raising.
White was previously the deputy chief executive and has significant experience in the funds management sector.
The company said King had “voluntarily forgone his right to be paid compensation and entitlements under his service agreement following his resignation”.
City Pacific earlier today announced that it had withdrawn a merger offer involving the financial services arm of MFS.
Recommended for you
Results are out for the latest sitting of the ASIC financial advice exam, with the pass rate falling for the second consecutive sitting.
Adviser losses for the end of June have come in 143 per cent higher than the same period last year, and bring the total June loss to over 350.
ASIC’s enforcement action is having an active start to the new financial year, banning a former Queensland financial adviser for 10 years in relation to fees for no service conduct.
ASIC has confirmed the industry funding levy for the 2024–25 financial year, and how much licensees can expect to pay.
