Board of Directors

Mr Frank Zipfinger
Frank Zipfinger
LLB, LLM, BEcon and Acc, MBA, AICD
Independent Chairman

Mr Frank Zipfinger has over 30 years' experience in the property industry.

Mr Zipfinger was appointed a non-executive director of Aspen Group in January 2011 and appointed Independent Chairman in November 2011. He is also Chairman of the Nomination and Remuneration Committee and a member of the Audit Committee.

He was formerly a Partner in the Property, Construction & Environment practice of the Sydney office of Mallesons Stephen Jaques where he specialised in property investment and development. Frank was also the Chairman of Mallesons Stephen Jaques from 1 February 2005 until 30 June 2010. Prior to this appointment, Frank completed over five years in various roles as a Managing Partner with the firm.

Mr Zipfinger is a Member of the Australian Institute of Company Directors. He is also a member of the Executive Committee of the St Joseph's College Indigenous Fund, a member of the board of the Melbourne Business School, a director of the Australian Youth Orchestra and a former director of the Australian Boards of the international not-for-profit organisations Room to Read and Grameen Australia.

He is a Director of Galileo Japan Trust and is the Chairman of Investor Representative Committees of the AMP Capital Shopping Centre Fund and the AMP Capital Wholesale Office Fund.

Mr Clem Salwin
Clem Salwin
BA (Honours)
Chief Executive Officer

Mr Salwin has over 25 years' experience across real estate funds, investment, management, development, investment banking and corporate management.

Mr Salwin was most recently the Acting CEO of Valad Property Group, the ASX listed REIT, with operations across Australia and Europe. Prior to Valad, Mr Salwin was a real estate investment banker with UBS, having been based both in Australia and Japan. Before then, he was with Bankers Trust Australia, responsible for real estate funds management.

Mr Salwin was appointed as Managing Director and Chief Executive Officer of Aspen Group from 1 July 2013.



Mr Clive Appleton
Clive Appleton
BEc, MBA, AMP (Harvard), GradDip (Mktg), FAICD
Non-Executive Director

Mr Appleton has had a successful career in property and funds management with over 30 years' experience in some of Australia's leading retail property investment, management and development groups.

Mr Appleton's early career was spent with the Jennings Group where, from 1986, he held senior executive roles, responsible for managing and developing the retail assets jointly owned by Jennings Properties Limited (JPL) and Jennings Property and Investment Group. In 1990, following a restructure of JPL to become Centro Properties Limited, Mr Appleton became Managing Director.

From 1997 to 2004, Mr Appleton was the Managing Director of the Gandel Group Pty Limited, one of Australia's leading retail property investment, management and development groups.

In 2005 Mr Appleton joined APN Property Group as Managing Director.

Mr Appleton is currently a non-executive director of the Gandel Group, Arrow International Group Limited, APN Property Group Limited, Federation Centres, Perth Airport Pty Ltd and Perth Airport Development Group Pty Ltd. He is also a council member of Cairnmillar Institute.

Appointed a non-executive director of Aspen Group on 30 April 2012, a member of the Remuneration Committee on 10 May 2012 and a member of the Nomination Committee on 22 January 2013.

Mr Appleton has a Bachelor of Economics and a Post Graduate Diploma of Marketing. He has a Master of Business Administration from Monash University and has completed the Advanced Management Program at Harvard University.

Mr Hugh Martin
Hugh Martin
Non-Executive Director

Mr Martin has enjoyed a successful career at Director and Senior Executive level with over 30 years' experience in major institutions in the property industry, internationally and domestically. Mr Martin started his career as an Accountant in South Africa before relocating to Australia.

Mr Martin was formally an Executive Director of Lend Lease Limited.

From 1997 to 2001, Mr Martin was Chief Executive Officer of the joint venture between Mirvac and Lend Lease for the development, construction and sale of the Olympic Village, now known as the suburb of Newington in Sydney.

Mr Martin has previously held senior executive positions as Finance Director of Baulderstone Hornibrook, Director of Property Investment with the State Authorities Superannuation Board of NSW (now Dexus), Managing Director of Leda Holdings, Chief General Manager of Homebush Bay Development Corporation, General Manager of Special Projects at Westfield Holdings Limited, Executive Director for Vivas Lend Lease; and National General Manager for the Apartments Development Division at Stockland Corporation.

Appointed a non-executive director of Aspen Group on 30 April 2012 he was appointed a member of the Audit Committee on 10 May 2012. He relinquished his position on the committee upon becoming the Interim CEO of Aspen Group between 23 August 2012 and 30 June 2013, following which he resumed his role as non-executive director.

Mr Martin is also a non-executive director of Investec Property Limited.

Mr Guy Farrands
Guy Farrands
BEc, Grad Dip Man, FAPI
Non-Executive Director

Mr Farrands has over 30 years' experience in direct and listed property markets both in Australia and internationally and across commercial, retail, industrial, residential and retirement asset classes. He was Managing Director and Chief Executive Officer of GEO Property Group (now VillaWorld Group) between 2007 and 2011. Previously Mr Farrands was Chief Executive Officer of Valad Property Group between 2005 and 2007, departing prior to Valad's acquisition of Crownstone/ Scarborough. Prior to that Mr Farrands was Head of Corporate Development and Investor Relations for Valad.

Mr Farrands' former roles included Division Director of the real estate division of Macquarie Bank's Investment Banking Group where he managed IPOs, equity raisings and mergers and acquisitions, Associate Director and joint head of property for Heine Management Limited and Manager in the Investment Sales Department at Jones Lang LaSalle.

Appointed a non-executive director of Aspen Group on 26 November 2012, a member of the Remuneration Committee on 22 January 2013, a member of the Nomination Committee on 22 January 2013 and Chariman of the Audit Committee on 22 January 2013.

Mr John Carter
John Carter
MBA (Syd), BAppSc (Property Resource Mgmt) (UniSA), AAPI, GAICD
Non-Executive Director

John's career in real estate and financial markets spans over 30 years. In 2004 John established Mill Hill Capital to pursue investment opportunities in Real Estate, Agriculture and Equities.

Prior to this John was Managing Director, Co-Head of Equities and on the Australian Executive Committee for UBS in Australasia from 2001 - 2004.

From 1991 - 2001 John was head of Property and Head of Real Estate Research at UBS. While at UBS, John led over $10 billion of M&A and $20 billion of capital raising transactions for Australia's leading companies including Colonial, Westfield, Stockland, GPT, Mirvac, AMP, Multiplex, Macquarie Airports and Bankers Trust.

Prior to UBS he was involved in commercial real estate at two international real estate consultancy groups.