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IOOF dealership GM resigns, role restructured

IOOF has confirmed its general manager for dealerships has resigned, prompting a reassessment of the company's senior executive organisational structure.

In an email to ifa, an IOOF spokesperson said Mick Farrell resigned last month following a three-year stint at the company in which he oversaw a significant improvement to IOOF's advice businesses.

Mr Farrell decided to return to his consulting practice and to continue advising clients across Asia, the spokesperson said.

"Mick originally joined IOOF in early 2013 on a two-year contract to help integrate and effectively position IOOF's flagship advice businesses such as Bridges, Consultum and Lonsdale," the spokesperson said.

"He stayed on to assist with the integration of Shadforth Financial Group, incorporating Plan B, and Western Pacific over the past 12 months."

As a result of Mr Farrell's departure, IOOF's senior executive organisational structure was reassessed and the role of group general manager for wealth management was created to "align capabilities and continue the evolution of advice and services strategies".

General manager of distribution Renato Mota has taken up this role. Within the new structure, each dealer group CEO will report to him, the spokesperson said.