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Mariner may be fishing for Austock

Sarah Thompson and Anthony Macdonald

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Now that Austock has bowed to trading room pressures and offloaded its brokerage business to Intersuisse, attention has turned to what will happen to Austock’s rump, which continues to trade on the Australian Securities Exchange.

As it stands, Austock, after the Austock Securities sale, is a $15 million seldom-traded company, home to Austock Property and Austock Life, two separate funds management units. Former Austock chief executive Paul Masi has headed over to Intersuisse, renamed Octa Philip Financial Group, and a suite of new directors has been brought in.

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Original URL: https://www.afr.com/companies/financial-services/mariner-may-be-fishing-for-austock-20120507-iy2hn