17 October 2012 6:58am

Mortgage specialist Firstfolio has lost its second chief executive in four months. The company announced yesterday that David Hancock, who was appointed at the end of June, has left the company.

In a statement issued to the Australian Securities Exchange, company secretary Dustine Pang said Hancock had left "after assisting the company with the recent transitional phase."

Hancock's role was described as anything but transitional back in June. In the statement that was issued announcing his appointment, the company said: "Mr Hancock was looking forward to delivering a business...