Veteran takes helm at troubled BBY
STOCKBROKING veteran Craig Mason has been hired to take charge of troubled stockbroker BBY Asia Pacific.
BBY, which controls more than $2 billion in funds, was put in administration on May 18 but last week struck a sale deal with George Wang’s AIMS Financial Group. Mr Mason, who was inducted into the Stockbrokers Hall of Fame last year, was Pershing Australia chairman until March. He had previously worked at investment banks UBS and Merrill Lynch.
Mr Mason said he planned to expand BBY’s product offerings, which would have a reduced risk profile.
“The opportunity the BBY Asia Pacific platform presents to enhance and grow a business is what has attracted me to the CEO role,” Mr Mason said yesterday.