Gai McGrath, chair of BT Funds Management, has been appointed non-executive director at Insignia Financial, effective 4 March 2024.
McGrath has been the chair and non-executive director of the superannuation boards at BT since July 2021.
She brings almost four decades of experience in the legal and financial services sectors to the board, including 12 years as general manager of Westpac’s retail banking businesses in Australia and New Zealand, and in BT Financial Group as general manager of customer service, head of customer service delivery and general manager of risk solutions.
Prior to joining the Westpac Group, she was with Perpetual as general counsel and company secretary.
“Gai brings significant expertise and governance experience to the board, having had an extensive career in the financial services sector, both as an executive and as a director,” noted Allan Griffiths, chairman of Insignia Financial.
He described McGrath as a “natural successor” to Elizabeth Flynn as chair of the group risk and compliance committee.
“Elizabeth will be stepping down from the IFL board in 2024, having joined the board in 2015. We are delighted to have Gai join the board and look forward to the valuable contribution she will make to the group,” Griffiths said.
McGrath is also present on the boards of Helia Group, Steadfast Group, HBF Health and Toyota Finance Australia as a non-executive director.
Shareholders will be asked to consider McGrath’s appointment at the 2024 annual general meeting.
Earlier this month, Insignia Financial chief executive Renato Mota announced he will step down from the company after 20 years in February 2024.
Mota joined the firm in 2003 and held a variety of roles including general manager of distribution, group general manager for wealth management, leading the acquisition of MLC, and was appointed its chief executive and managing director in 2019.
Prior to joining Insignia, he worked at Rothschild and big four banks NAB and ANZ.
