Stockford appoints new chairman
Financial services consolidatorStockfordhas undergone a changing of the guard with the group replacing retired chairman Peter Hall with Brian Clayton.
Hall retired from his post as chairman in June this year, however, the group had not appointed a new chairman, with Merran Kelsall holding the fort as interim chairman.
Clayton joins Stockford as chairman and director, with his appointment effective October 22.
In his new role, Clayton will be responsible for overseeing the group’s next phase of development, as well as being responsible for the running of the Stockford board and executive team.
Clayton’s appointment comes a month after its co-founder and director Ian Davidson refused to run for re-election. Davidson’s subsequent departure from Stockford only added to its woes, with the group understood to have lost $5.73 million for the year to June 30, 2001 - a result well below its forecast profit of $7.5 million, after operating revenue reached $75.41 million.
Prior to joining Stockford, Clayton has held positions in both the banking and finance fields, most notably as executive chairman of Citibank Limited. He is also a former chairman of Keycorp Limited.
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