Austock CEO steps down from executive responsibilities

Austock Group has announced that its chief executive officer, Bill Bessemer, is stepping down from his executive responsibilities, effective 22 November 2017.

The announcement follows the completion of Bessemer's handover period with executive chair, Rob Coombes, who joined the firm in July 2017.

Bessemer joined Austock in 1995 and served as chair from 1999 until 2009. Following a brief retirement, he was re-appointed as a director on the Austock board in February 2012 and was appointed as CEO in May of that year. Bessemer will remain as a director on the Austock Group board.

Bessemer has over 40 years' experience in banking and finance, specifically in the areas of debt and equity structuring, mergers and acquisitions and business recoveries. Prior to joining Austock, he was a shareholder and director of a boutique corporate advisory business. He also held several senior management roles and directorships with companies owned by ANZ.

The firm has also announced that Ross Higgins and Eric Barr are stepping down from the Austock Group board, effective 22 November. Both will stay on as directors on the Austock Life board.

Details on Rob Coombes' appointment can be found here.