Crole exits Sequoia
Sequoia Financial Group chief executive, Garry Crole has resigned.
Sequoia announced to the Australian Securities Exchange (ASX) today that Crole has resigned from his CEO role and as a director of the company and its subsidiaries, effective immediately.
The announcement said Crole had advised the board that he considers the decision to be in the best interests of the company and its stakeholders and that the board had accepted his resignation.
The board has appointed the firm’s head of Corporate Finance, Alex Fabbri as an interim CEO.
Crole’s exit comes against the background of Sequoia coming under scrutiny by the Australian Securities and Investments Commission (ASIC) over the attempted sale of its financial advice licensee, InterPrac.
InterPrac has been tied up in complaints around the collapse of the Shield Master Fund.
Surely that is a joke? is that really his next move?
The Industry Funds are taking the piss. Retail funds and Financial Advisers have had a clear, standardised model for years…
All the best Garry - hope your new business called Acacia Compliance Services is more successful.
MTAA were similar, top Super Fund for 10 years pre GFC. 60% + in Unlisted Assets that froze and lost…
A generation ago there was an industry fund, Westscheme (its been estimated that 1 in 4 WA workers was in…