Renato Mota, CEO of Insignia Financial and Alison Telfer, country head for asset management Australia and New Zealand of UBS Asset Management, have been appointed as the new directors to the FSC board.
With over two decades of experience in financial services, Mr Mota most recently led the charge for Insignia Financial’s transformation strategy, which included the acquisition of MLC, as well as focusing on enabling financial wellbeing for Australians.
Mr Mota previously worked for NAB and Rothschild in corporate finance positions, focusing mainly on M&A’s.
Ms Telfer also brings 20 years of experience in Australian and global asset management to the role. She has held a plethora of positions in the industry, spanning across product development, strategy, and client distribution to legal and government affairs.
Prior to UBS Asset Management, Ms Telfer was the COO for Australasia for BlackRock Asset Management along with being an executive sponsor for BlackRock’s Philanthropic Committee and Women’s Initiative Australasia.
David Bryant, FSC chairman, said the “extensive knowledge and experience” that the duo will bring to the board will “further strengthen the FSC’s contribution to the national debate to the benefit of financial services consumers.”
“Renato and Alison’s appointment reflects the senior industry leadership the FSC brings to help the Government and regulators solve common public policy challenges,” Mr Bryant said.
“Renato and Alison share the FSC’s commitment to a more competitive, efficient, and growing financial services sector that delivers high quality products for Australian consumers.”
Mr Mota said that he is “pleased” to accept the role of director of the FSC board as they “work together to improve the long-term financial wellbeing for all Australians”.
Ms Telfer added: “I look forward to working with the FSC Board to support representation of our members and to shape a world class financial services industry that serves all Australians well.”
These new hires follow Insignia Financial’s latest quarterly report which reported a reduction of 82 advisers from the Insignia network when compared to the last quarter, bringing the total number of advisers to 1,600.
Additionally, Insignia reported $205.2 billion of total funds under administration, a 6.9 per cent drop from the previous quarter, and a 4.7 per cent drop of funds under management to $92.3 billion after market decline of $3.8 billion and institutional outflows of $901 million that offset positive retail net inflows of $118 million.
