Former general manager of distribution Mark Oliver has been promoted to the new title of chief distribution officer, whereas general manager of advice Darren Whereat has assumed the role of chief advice officer.
Frank Lombardo has kept his role of chief operating officer, but the function will now involve new areas including transformation and integration, a new commercial management capability and its new client-centred focus.
Further, head of marketing Candice Spence has decided to leave the company after 14 years.
Chief executive Renato Mota said the changes were designed to better align the group’s teams and reflect its recent acquisition of ANZ’s pension and investments business (P&I).
“This marks the commencement of an exciting new phase of IOOF’s development,” Mr Mota said.
“The recent increase in our size and scale through the P&I acquisition has improved our ability to invest in and deliver market leading solutions, offering more value to our clients.
“We are building solid foundations for IOOF’s future success. Through a purpose-led culture we continue to challenge ourselves to deliver better outcomes for clients and members.”
Mr Oliver’s new role has reflected the increased scale and scope of IOOF’s product and client businesses following the completion of the P&I transaction as well as incorporating responsibility for group marketing.
“Mark’s new role reflects the importance of and opportunities from the continued development of efficient and engaging solutions for advisers, investors, members and employers,” Mr Mota said.
Mr Whereat is set to continue to lead the advice business, with Mr Mota commenting that his role will reinforce the importance of advice to the group’s strategy and its transformation of advice delivery.
In November, Mr Mota indicated he had undertaken the management review since June last year to ensure the group had “the right people leading”.
At the time, it had seen two new executives join: Mel Walls, chief people officer, and Adrianna Bisogni, company secretary.
But it was set to see its third chief risk officer in six months, after the last CRO Amanda Noble resigned, having only held the role for a few months.
The group had made the update after Shine Lawyers filed a class action against it in the Federal Court on Friday.
[quote=Chris Tobin]Third chief risk officer in six months….the canary is singing loudly in the coal mine.[/quote][quote=Chris Tobin]Third chief risk officer in six months….the canary is singing loudly in the coal mine.[/quote] they want right people
Afr article says he didn’t make decisions rather his predecessor or people higher up. So I guess it’s not him
Interesting comments
I must admit it does seem strange that the leadership team in IOOF are being built around a number of people who were either criticised or apologised for their actions in the RC
BLB at board level for them to approve or is it because they are in doo dah land like the comment above
The ethics and culture in this organisation just took a huge step in the wrong direction with one specific appointment
Egoism nepotism and self interest will now spread like a virus and destroy the business
Then again we should expect nothing less in his announcement with a name like independent order of odd fellows now RUNNING the show
Perhaps the the fellows should now be officially replaced with fools
OMG the promotion of whereat After the shenanigans of the RC
Mota is clueless
The cuckoo is now firmly in the nest with his set of fledgling
Your days are now numbered Mr Mora
Third chief risk officer in six months….the canary is singing loudly in the coal mine.
If that’s not a flag for ASIC to go in and investigate then we are all doomed to the reality that ASIC will ban individuals but are frightened of the corporates
Bear regime and ASIC enforcing this is similar to a chiququa
all bark and no bite !!