Wealth company ClearView has appointed a new chairman after the resignation of its current chair among a number of other board changes.
Gary Weiss has resigned as chairman and as a director of ClearView, with Bruce Edwards, a current director, being appointed as chair.
Prior to his appointment as chairman, Mr Edwards was chair of ClearView's board audit committee, board risk and compliance committee, and the nomination and remuneration committee. He is a qualified actuary, with more than 26 years in actuarial consulting, including five years as managing director of KPMG Actuaries.
In recent years, he has held directorships with a number of life and general insurance companies, life insurance distribution companies and superannuation fund trustees, as well as lecturing in actuarial science at Macquarie University. He is a director of Munich Re in Australia.
At the same time, Jennifer Newmarch has resigned as a director to ensure the composition of the board continues to meet its regulatory requirements. Michael Lukin's appointment as an alternate director to Ms Newmarch has therefore been revoked; and Mr Lukin has now been appointed as alternate director for Michael Alscher.
Commenting on the changes, Mr Edwards thanked Mr Weiss and Ms Newmarch for their significant contributions to ClearView over the years.
Simon Swanson, managing director of ClearView, said, "I would like to thank Gary for his effort as both Chairman and a director in playing an integral role in the formation of ClearView in its current form.
"Gary has helped drive ClearView's growth and strategic development to the benefit of our customers, partners and shareholders and has made an enormous contribution to our business," he said. "On a personal note, I have both enjoyed working with Gary and appreciated his sage counsel. We wish him all the best."
The regulator has also banned the director of the firm linked to the Mayfair 101 Group from controlling a financial services entity.
The big four bank has confirmed the move today.
Joe Longo has addressed ongoing concerns by the industry.
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