FINSIA
Finsia – Financial Services Institute of Australasia (Finsia) is a membership association for financial services professionals in Australia and New Zealand. It was created in 2005 through merger of two older Australian associations making it one of the largest financial services organisations in the region. Its main aim is to help its members succeed in their careers.
A large part of its operations was providing financial training to its members but its training division was sold to Kaplan Inc in 2007 which now provides these services to Finsia members and non members.
History
Finsia was formed in 2005 by the merger of the Australasian Institute of Banking and Finance (AIBF), founded 1886 and the Securities Institute of Australia (SIA), founded 1966. In 2007, Finsia members voted in support of a Board recommendation to sell the education business to Kaplan Inc for $36 million.
Today, the organisation has approximately 16,000 members.
In May 2011 Russell Thomas F Fin was appointed as Finsia's CEO.
Structure
Finsia is governed by a Board of Directors which is responsible for the overall corporate governance of Finsia, including its corporate planning.
The association is structured as a unlisted public company in Australia, limited by guarantee and not having a share capital. Finsia Education is an unlisted public company, limited by guarantee and not having a share capital. It continues to operate for Finsia transactions following the sale of the education business to Kaplan.