Aggregator finds replacement CEO

by Mackenzie McCarty28 Jun 2012

A beleaguered diversified financial services business and mortgage aggregator has named its new CEO.

Firstfolio has filled a CEO role made vacant by the firing of Mark Forsyth with David Hancock, an 
experienced banking executive who was previously a consultant to the company.

Hancock's resume includes a stint as executive general manager of the Commonwealth Bank from 2007 until 2012, and previous roles at institutions Shinsei Bank, JP Morgan and Citigroup/Salamon Smith Barney.

Chairman Eric Dodd said that Hancock has a solid understanding of the business as a result of his consulting engagement, as well as "an excellent and proven track record".

Hancock said he was looking forward to delivering a business strategy that would enhance value for all shareholders.

“Firstfolio has acquired several assets in recent years and my focus will be to execute on a growth plan that leverages off those assets,” Hancock said.

“The immediate focus will be on improved client services and ensuring that the company keeps pace with the changing landscape in financial services," he said.

Hancock takes over from acting CEO Mark Flack, announced he would step down as a director.

Related stories:

Firstfolio chair defends Forsyth's forced exit



  • by Coast Broker 29/06/2012 11:34:02 AM

    So will Mr Hancock remove the monthly Admin fee o0f $150 that is charged to ex Lawfund Brokers being that it is a blantant ripoff and they provide no service for the fee. They hold onto the Lenders Trail for the month before paying over the 80%. You do not even get you Commission Statement emailed to you. You have to log in to obtain it. So they do nothing for their $150 per month fee except hold onto the commission for a month earning interest on it. Not a fan of Firstfolio.