HFA Holdings’s chief executive, Spencer Young , will be stepping down after the annual general meeting on November 10. Mr Young will remain as non-executive chairman of the board. Following the AGM, the CEOs of the company’s two separate operating subsidiaries, Sean McGould (CEO and president of Lighthouse Partners in the US) and Craig Mowll (CEO of Certitude Global Investments in Australia) will report to HFA’s board. Staff reporter

Platinum Asset Management had funds under management of $16.37 billion at the end of September, down from $16.63 billion at the end of August. Separately, its listed fund, Platinum Capital , said its unaudited net asset backing at the end of September was $1.08 a share, down from $1.09 a share a month earlier. Staff reporter