This article is from the Australian Property Journal archive
PROPERTY industry leader DR Frank Wolf, 64, has passed away after a short battle with cancer.
Earlier this year, Wolf announced he was stepping down as managing director of Abacus Property Group on 01 July 2018 to focus on his health.
He spent 21 years with Abacus including 11 years as managing director, transforming the property group into a powerhouse with a market capitalisation of over $2.3 billion.
Abacus chairman John Thame yesterday paid his respects to Wolf.
“We are deeply shocked and saddened by the terrible news of Frank’s passing this morning. The thoughts of everyone at Abacus are with Frank’s family and friends, and we again extend our deepest sympathies to them.
“Steven was due to take over as managing director in July following Frank’s retirement. While this has occurred earlier than anticipated, we have every confidence in Steven’s strong capabilities to take Abacus into the next stage of its future,” he added.
“It has been a great privilege to know Frank over all these years. Frank was known and greatly respected for his contribution to the real estate sector and a direct, no-nonsense style that delivered some of the sectors most infamous transactions that rank him alongside some of the Greats of the property industry. Frank will be missed by everyone at Abacus and those in the market that had the pleasure of working with him.” Thame said.
Newly confirmed MD Steven Sewell said, “It is with great sadness that I take on this role and responsibility at this time. I am committed and confident in the group’s ability to continue the strong legacy Frank leaves behind.”
Wolf was one of the founding members of what was to become Abacus in 1996, becoming chairman and then taking over as MD in 2006.
Early in his career, Wolf graduated from The University of British Columbia, with a doctorate in accounting whilst considering a life in academia. He ultimately entered the corporate world becoming a partner of Touche Ross & Co and later senior management roles throughout the insurance and financial advisory industries.
During this time, he has been instrumental in over $5 billion of property related and corporate acquisitions and divestments within the retail, commercial, industrial and hospitality sectors in Australia, New Zealand and the United States.
Wolf was also involved in multiple philanthropic activities, particularly as a major donor and strong advocate of the Jewish community, including Montessori Home, Masada College, North Shore Temple Emanuel Synagogue, Emanuel School, Australian Jewish Historical Society, Sydney Jewish Museum, Shalom Institute, NSW Jewish Board of Deputies and most notably with the Jewish Community Appeal where, since 2005, he has chaired a number of important committees and was an integral member of the charities executive team.
He was awarded an Order of Australia Medal for services to the community in the Queens’s Birthday Honours List in 2012.
Australian Property Journal
