Keybridge Capital CEO returns after ASIC ban
Keybridge Capital’s Nicholas Bolton has returned to his chief executive role following expiry of a ban made by the Australian Securities and Investments Commission (ASIC).
He previously served as managing director of Keybridge from March 2014 before becoming embroiled in a legal dispute with ASIC in November 2015. He was banned from running a company for three years.
Bolton will be paid $330,000 for a part-time role but may transition to a full-time role with a higher salary in due course. His role may also be terminated by Keybridge at any time in the event of serious misconduct.
He said: “I am very pleased to have resumed my position at Keybridge. For many reasons, Keybridge has had a very difficult few years, reflected, not least, in its negative share price performance. Representing the company’s largest shareholder, I am, of course, highly motivated to both recover and create value for all our members going forward.”
Bolton represents the interests of Australian Style Group, a 22 per cent majority shareholder in Keybridge.
In recognition of the move, chair John Patton would move from executive to non-executive director from 1 July, 2019.
Bolton had appealed to the Administrative Appeals Tribunal (AAT) but this had not been decided when the ASIC suspension expired.
AUTHOR
Laura Dew
Recommended for you
Momentum Media’s wealth publishing network is pleased to announce the launch of the annual Australian Wealth Management Summit 2025.
Trustee and fund administration platform MSC Group has promoted Shelley Brown as its chief operations officer, having successfully completed the integration of the Certane Corporate Trust business.
Australian Unity’s group managing director and chief executive has announced his plans to retire at the end of the year after two decades leading the company.
TAL has appointed a senior manager for investment strategy and portfolio management who joins from a lead role at AIA.
