CITY Pacific's executive director Stephen McCormick has resigned after finding is role in company no longer exists.
McCormick was appointed to the board as an executive director just recently on June 23.
He was appointed to the board as a reward for managing the property portfolio of the City Pacific First Mortgage Fund.
However since City Pacific lost the management of the FMF to Balmain Trilogy, McCormick’s role of group executive – property development finance no longer exists.
Australian Property Journal
