SMITH Martis Cork and Rajan Financial Planning principal Patrick Cork has left the firm, along with four other staff, to join Grange Securities.
Grange Securities established its Perth office in 2001 and, up until 2003, had four staff on board. The recent appointments bring its staffing levels to 14.
According to Grange Securities divisional director Frank Sciarrone, discussions have been taking place with Mr Cork for about five months.
“Patrick and I have known each other for years and we have a similar way in thinking about client issues. There were some changes that he wanted to undertake in his business and he felt his clients would be better served here,” Mr Sciarrone said.
“He has brought his team across. They are extremely strong on the technical side but were looking for somewhere that their clients could add value.
“After some extensive negotiations he decided to come across.”
Also joining Grange Securities are Tim Flavell, Sharon Cork, Fred Cork, and Jade Campbell.
The loss of Mr Cork and four staff leaves SMCR with eight staff and follows an unfavourable court decision late last year that forced it to pay ousted managing director Joseph Martis $737,000.
According to SMCR director Suresh Rajan, the company has only technically lost the services of two people – Patrick Cork and Tim Flavell.
“Patrick took two of his staff with him but they were his assistants and Jade was moving on anyway,” Mr Rajan said.
Mr Rajan said his staff of eight was ideal for the company and it would not be looking to recruit new members.
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