Australian Rugby / RA
- Thread starter Dave Beat
- Start date
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Bobby Sands
Guest
Just watched a great movie by the way. 'Knives Out' with Daniel Craig. Can recommend it!
Kearnsy built up a financial planning business and sold it a few years ago for $25m or so.
Compelling?
Written/directed by Rian Johnson, one of the sharpest minds in film. Haven't had a chance to watch yet.
shanky
Darby Loudon (17)
Ignoto
Peter Sullivan (51)
Just watched a great movie by the way. 'Knives Out' with Daniel Craig. Can recommend it!
Kearnsy built up a financial planning business and sold it a few years ago for $25m or so.
Compelling?
Well, he also lost $50m in a DHA property fund, had the AFP investigate misappropriation of funds; https://www.smh.com.au/business/com...andrew-mehrtens-winds-up-20160401-gnw2dn.html
Compelling?
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Bobby Sands
Guest
Just hire the head of rugby at TSS already.
genuinely, what are his business credentials?
shanky
Darby Loudon (17)
He was a reasonably successful sales guy at a recruiter. Then (a bit later) set up his own business which he sold for good money.
Almost everyone locally has a good word to say about him.
kiap
Steve Williams (59)
Well, it can be hard to tell from the outside.
He was at Centric Wealth going back 5 or 6 years ago; a couple years in the CEO role. Centric had South African origins and it wasn't particularly surprising to see a few rugby names brought into the Sydney HQ. Kearns as boss became their face of the operation and link man for the backers. That kind of role is an important part of the wealth management business but I'd say the financial planning gets handled in the back office.
Like you say, some history in sales … but what rugby really needs is someone who can steer through a major reset.
kiap
Steve Williams (59)
No.
Be wary of confirmation bias.
Defenders of the present CEO have, rightly, been pointing out claims that don't pass a fact check. Was the same process applied here?
The fund started with an investment value of $47.1 million in late 2013. Centric was bought out by Findex soon after and Kearns departed.
The company decided to realise their investment early based on a view the residential market had peaked and wound up the fund, selling the properties.
Was the investment wiped out - how does a lost $50m arise?
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Bobby Sands
Guest
From my reading they didn't lose it at all, they closed the fund and were looking to sell the properties privately.
It's hard to lose $50m investing in property that is already built.
It's not like they were developing something and ran into operations costs issues or lack of interest and had to return monies. They simply wrapped the fund in the form that it existed.
That is my reading of it anyhow.
I am also in no way advocating Kearns for the role, far from it in fact.
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Bobby Sands
Guest
People don’t even play rugby in NSW, it’s time to move HQ to QLD.
Dismal Pillock
Michael Lynagh (62)
The Alltime Crim 1st XV Selectors have pored over this article long into the night but, sadly, have failed to find the smoking gun necessary to concript messrs Kearns and Mehrtens into the legendary squad.
