Spring FG appoints acting CEO
Listed financial services company, Spring FG, has appointed its current head of advice services, Frank Paul, as their acting chief executive.
In an announcement to the Australian Securities Exchange (ASX), the company said Paul would become acting CEO to enable the company's founder and managing director, Keith Cullen, to reduce his work commitments following recent medical leave.
Prior to joining Spring FG Paul founded and worked as managing director of a financial planning and investment advisory firm, Moneytree, from 1994, until it was acquired by Spring FG in 2014.
Cullen recently underwent a scheduled donor nephrectomy to assist an immediate family member, the company said.
Spring FG chairman, Guy Hedley said: "While Keith's surgery was a success for all concerned, the procedure was ultimately more invasive than anticipated, resulting in a longer period off for full recovery".
Paul's appointment would enable Cullen to take time off to focus on his recovery, Hedley said, He would then gradually return to work over the next few months.
Paul would assume full responsibility for the company's daily operations while the board and Cullen would retain responsibility for corporate matters.
Recommended for you
Remediation and litigation costs have led AMP to announce a reduced statutory net profit after tax of $98 million for the first half of 2025.
Stakeholders in the professional year discussion underscore the challenges in the current pipeline and what is holding back licensees from taking on new candidates.
Colonial First State has partnered with JP Morgan Asset Management to make its inaugural private equity allocation, continuing the firm’s expansion into unlisted asset classes.
Two law firms have highlighted licensees’ responsibility to ensure they have sufficient cyber security measures in light of the enforcement action against Fortnum Private Wealth.
