Merry Christmas to Peter Wilson. When it was suggested that Peter Wilson should be independent of the old board so that we can have a fresh start Peter responded with "That's your issue". Summary of the meeting here: viewtopic.php?f=23&t=594
A good summary of where we are up to by Joe Aston of the AFR, linked to from here: viewtopic.php?f=5&p=4137#p4137
If you are new to this website read the story so far: viewtopic.php?t=321#p1793
Check out some of the AFR articles, too many to list and check out some of the ABC reports: http://www.afr.com/business/accounting/ ... 215-h055ej http://www.afr.com/business/accounting/ ... 211-h02x1d http://www.abc.net.au/news/programs/the ... s,/8626662
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AFR 23 March

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chuck_meister
Posts: 96
Joined: Fri Mar 31, 2017 8:58 am

AFR 23 March

Post by chuck_meister » Fri Mar 23, 2018 3:55 pm

Andrew Hunter (not an accountant or CPA) appointed CEO, Adam Awty made redundant with a $843,446 payout.

http://www.afr.com/business/accounting/ ... 323-h0xvqu

Accounting body CPA Australia has appointed a veteran Macquarie Group, Andrew Hunter, as its new CEO nine months after firing former head Alex Malley.

Mr Hunter, who is neither an an accountant nor a CPA, will earn a maximum of $866,000, made up of base pay of $650,000 and an at risk bonus worth another $216,000, with a notice period of 6 months.

The new CEO's potential salary is almost $1 million less than Mr Malley earned in his final full year at CPA and the notice period is a fraction of three years' base pay Mr Malley was paid when he was fired last June.

The revelation that Mr Malley was earning $1.79 million for leading a professional association, along with details about the poor governance and spending decisions at CPA, led to a member uprising that eventually saw Mr Malley fired, the entire board resign and a promise of wholesale reform from the new board.

Awty made redundant

Mr Hunter's salary terms are also below that of the head of rival accounting body Chartered Accountants ANZ, Rick Ellis, who is in line to earn up to $1 million.

Mr Hunter will start on April 3, 2018. Adam Awty, who has been interim CEO since Mr Malley was fired, has been made redundant and will receive a payout of $843,446.

CPA is is the country's largest accounting body, with 500 employees and $180 million in revenue, and represents roughly 163,000 certified practising accountants and accounting students.

Mr Hunter was most recently the head of of the Export Finance and Insurance Corporation and prior to this spent more than two decades at Macquarie Group, in roles that include head of Macquarie Capital Europe Middle East and Africa.

"Delivering value and service to members will be a priority and I will be talking with members to get an understanding of their perspectives on CPA Australia's future direction," Mr Hunter said in a statement.

Big job ahead

CPA Australia president and chairman, Peter Wilson, said: "Andrew is a proven CEO with international experience who has demonstrated he can drive change, understand stakeholder needs, and bring out the best in organisations."

Mr Hunter will have his work cut out for him to reform the organisation. A much-criticised independent review into the organisation was highly critical of the actions of the previous CPA board and Mr Malley and made 29 recommendations to improve the way the body is run.

The report also found the CPA board and executive had lost touch with its members and had unilaterally, and against expert advice, increased Mr Malley's termination pay from two to three years in 2015, meaning the accountants' union was forced to pay him a whopping $4.9 million when he was fired in June.

edmundtadros@afr.com.au

JWheldon
Posts: 356
Joined: Wed May 24, 2017 6:43 pm

Re: AFR 23 March

Post by JWheldon » Fri Mar 23, 2018 10:06 pm

Agree with others, that it is funny that
"Andrew has previously completed the Ethics and Governance model of the CPA Program and he intends to complete the program in 2019." Why? There is very little that he will gain from doing the CPA course, especially for ex-macquarie banker. Why did he leave Macquarie group?

It would seem that Mr Hunter is not the right individual for the CEO job of a Not-for Profit business.

He does not appear to stay long in the roles that he becomes appointed too. Why did he leave EFIC, a government job?

It appears that he was at EFIC since 2013 and then replaced in June 2017.

http://trademinister.gov.au/releases/Pa ... 70623.aspx


"Mr Hunter, who is neither an accountant nor a CPA, will earn a maximum of $866,000, made up of base pay of $650,000 and an at risk bonus worth another $216,000, with a notice period of 6 months. " Sounds like the board of CPA Australia, are making a bad decision.

https://www.gtreview.com/news/on-the-mo ... s-new-ceo/

"Efic, the Australian export credit agency (ECA) has appointed Swati Dave as CEO and managing director.

A banker with more than 30 years’ experience, her most recent role in the sector was as executive general manager at National Australia Bank (NAB), which she left in 2015.

She spent more than a decade with NAB and has previously worked for Deutsche Bank, Henderson Global Investors, Bankers Trust Australia and Westpac, where she spent the first 13 years of her career.

She replaces Andrew Hunter, who is leaving the organisation. Hunter joined Efic in 2013, having spent the majority of his career with Macquarie Group."

Would guess, that he will leave, after three years or end of his tenure for a higher paying job at another organisation, and not really leave CPA Australia in a better position.

JWheldon
Posts: 356
Joined: Wed May 24, 2017 6:43 pm

Re: AFR 23 March

Post by JWheldon » Fri Mar 23, 2018 10:25 pm

https://www.theaustralian.com.au/archiv ... 656ef5eb77

Gillian Tan
TheAustralian
12:00AM July 18, 2013

THE former co-head of financial institutions investment banking at Macquarie Group has been named chief executive of Australia's export credit agency.

Andrew Hunter, who left Macquarie last July, joins Export Finance & Insurance Corporation at the end of the month and succeeds Angus Armour, who has accepted a role within the NSW Department of Trade & Investment, Regional Infrastructure & Services.

Before returning to Australia in 2010, Hunter was the head of Macquarie's London office, and also oversaw the bank's European operations.

Export Finance & Insurance Corp, better known as EFIC, provides finance in the form of guarantees, loans, bonds and insurance to Australian businesses with export-related opportunities if there's a shortfall in loans from commercial banks.

Because it is government-backed, it bears an AAA credit rating.

"EFIC has also been solidly profitable, making an average profit on the commercial account of $30 million a year and has returned more than $375m in dividends to the federal government," Andrew Mohl, the agency's chairman, said.

EFIC has supported Australian firms exporting more than $US22 billion ($24bn) of goods to 65 countries in a variety of industries in the past decade.



http://www.eastandpartners.com/index.ph ... dit-agency


New MD and CEO for Australia’s export credit agency

(19 August 2013 – Australia) Australia’s export credit agency, Export Finance & Insurance Corporation (EFIC) has announced the appointment of new Managing Director and Chief Executive, Andrew Hunter.

Hunter was most recently Co-Head of Macquarie’s Financial Institutions Group in Australia.

Before moving back to Australia in 2010, Andrew was Macquarie Group London Office Head and Head of Macquarie Group Europe and fulfilled this role from 2008. Previously, he was head of Macquarie’s corporate advisory business in London.

“Andrew brings a wealth of relevant knowledge and experience to the role and is excited to be joining EFIC. He has had a career spanning almost 23 years in financial services, with significant experience in offshore markets and in structuring credit transactions,” said EFIC chairman, Andrew Mohl.

Andrew succeeds current Managing Director and Chief Executive, Angus Armour who, after 20 years at EFIC and 10 years as MD and CEO, informed the Board last year of his decision to hand over the reins.

Armour has been appointed as Deputy Director General, Industry, Innovation, Hospitality and the Arts for the New South Wales Department of Trade & Investment, Regional Infrastructure & Services.
Posted on
Mon, August 19, 2013
in Australia,Executive Changes


https://www.reuters.com/article/macquar ... GS20100301

Macquarie names ex-Lehman executive to head EMEA
Financials
March 2, 2010 / 9:08 AM / 8 years ago

MELBOURNE, March 2 (Reuters) - Macquarie Group (MQG.AX), Australia’s top investment bank, appointed a former Lehman Brothers executive to head its Europe, Middle East and Africa operations, in a new role with responsibility for 12 countries.


Benoit Savoret, most recently chief operating officer for Lehman’s Europe and Middle East businesses, will head Macquarie Group and all its securities activities in the region, including sales, research, sales trading and derivatives.

He replaces Andrew Hunter, who will continue to lead Macquarie Capital in Europe until he returns to Australia some time this year. (Reporting by Sonali Paul; Editing by Balazs Koranyi)

geoffrt0019
Posts: 24
Joined: Sun Dec 24, 2017 10:45 pm

Re: AFR 23 March

Post by geoffrt0019 » Tue Apr 10, 2018 11:08 pm

Me thinketh cpa australia have found the prototype corporate gypsy...talks a big game....after time exposed as a showbag..looks good on outside but crap inside...then time to move on

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