Scott Hartley has been appointed chief executive officer of Insignia Financial, after Mr Mota announced in October he intended to depart in February.
The financial services firm said Mr Hartley joins Insignia Financial following an extensive search to replace Mr Mota.
Mr Hartley most recently served as CEO of AMP, prior to which he was CEO of Sunsuper and led MLC’s corporate and institutional wealth businesses.
“Scott joins at a pivotal point in the business and his appointment is key to providing a fresh perspective as we continue into the next phase of executing on our strategy,” said Allan Griffiths, Insignia Financial chairman.
“Scott’s deep experience and strategic leadership will be critical as we continue to build on our established foundations and move forward with clarity and focus on the opportunities our market position and capabilities provide.
“On behalf of the board, I would like to welcome Scott and look forward to working together. I would also like to express my gratitude to Renato for his 20 years of service and dedication to the organisation, five of which as CEO.”
Mr Hartley will commence in his role as CEO on 1 March 2024 and will join the company from 26 February 2024.
On his appointment, Mr Hartley said: “I am honoured to be chosen to lead Insignia Financial and excited to be joining Insignia Financial at this transformational time as it builds upon its strong foundations to support Australians to achieve greater financial wellbeing.
“Insignia Financial is uniquely positioned in the industry, with capabilities in advice, platforms, superannuation, and asset management, and a strong client-focused culture which can be leveraged to create value for all stakeholders, including shareholders, clients, advisers, and members. Insignia has an exciting future and I look forward to working with the Insignia team to accelerate execution of Insignia’s strategy.”
Mr Mota originally joined Insignia in 2003 and has held a range of positions at the firm including general manager – investor solutions, general manager – distribution, and group general manager – wealth management.
He was named acting CEO in December 2018 after the Australian Prudential Regulation Authority (APRA) commenced disqualification proceedings against the group’s executives which were later dismissed. Mr Mota was then officially appointed CEO in June 2019.
During Mr Mota’s tenure as CEO, Insignia completed its acquisition of ANZ’s OnePath pensions and investments business and NAB’s MLC wealth management business.
Good luck Insignia. You will probably need it!