Dealer group Count Financial has replaced former Countplus chief executive Jeremy Wardell with Count Financial’s chief financial officer Michael Spurr.
Count Financial executive chairman Barry Lambert said Wardell’s contract period was up and confirmed that he would be leaving the firm very soon.
Wardell’s exit is the third executive departure within the business over the past 12 months.
Former Count Financial chief executive Marianne Perkovic was appointed Colonial First State general manager of distribution last November, with former finconnect general manager Tanya Sale leaving the mortgage aggregator arm the following month to establish Outsource Financial.
Lambert said Spurr had been with Count Financial for more than 14 years and was an ideal choice to lead Countplus, as he had been a Countplus director for three years and had a good understanding of the business and its financials.
Furthermore, it was important for the new chief executive to be able to work closely with Count Financial for their mutual benefit, Lambert said.
Replacing Spurr as the dealer group’s chief financial officer will be Count Financial’s senior executive for finance and corporate development Stephen Aguilera-Mendoza.
In the meantime, Count Financial announced that it was in the process of listing Countplus on the Australian Securities Exchange.
Countplus has lodged with ASIC its initial public offer prospectus for an offer of ordinary shares to raise a minimum of $20 million worth of capital and a maximum of $25 million.
The public offering is expected to open on 22 November 2010 and close on 9 December 2010.
In allocating shares to applicants under the Countplus public offering, priority will be given to Count Financial shareholders and option holders who are Australia or New Zealand residents and who are listed on the register as holding at least 1000 Count Financial shares or options as at 8 November 2010.
