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Firstfolio’s managing director and chief executive officer Mark Forsyth has resigned from his position under a cloud of intrigue.
On Friday, Mr Forsyth abruptly and without prior warning, resigned from his position effective immediately.
The Adviser contacted both Firstfolio and its Public Relations firm, however, was unable to get a straight story from either company.
While the PR firm was unwilling to provide any comment or further information on the matter, the receptionist at Firstfolio told The Adviser that Mr Forsyth was currently away on "annual leave".
Since joining the company in 2006, Mr Forsyth has restructured the group's operations to support growth in the loan portfolio from $1 billion to more than $21 billion.
In addition, Mr Forsyth led the company through a series of acquisitions, including online mortgage company eChoice as well as a joint venture with specialist financial products provider Evergreen Finance Company.
Mark Flack has been appointed the as the acting chief executive while the board conducts a search for a new CEO.
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