Cousins, Astbury depart IAG Board
Geoffrey Cousins, the man whose name has been in the headlines for his criticism of the Federal Environment Minister, Malcolm Turnbull, over the Tasmanian pulp mill is departing the Insurance Australia Group (IAG) board.
IAG announced today that both Cousins and fellow director John Astbury would retire from the board tomorrow and would be replaced by two non-executive directors in the form of Hugh Fletcher and Anna Hynes.
Hynes was, until recently, a director on the board of Promina and has over 20 years experience in the financial services industry, while Fletcher is a non-executive director of the Reserve Bank of New Zealand and IAG New Zealand.
Astbury and Cousins had been directors of IAG since shortly before it listed on the Australian Stock Exchange in 2000.
AUTHOR
Mike Taylor
Recommended for you
A panel of advisers have argued charging fees accordingly is a top priority for the industry, but Peloton Partners has found firms are reluctant to increase them until the business pressure is “unavoidable”.
Equal weighted ETFs are gaining ground with financial advisers, according to AUSIEX, as they believe they can bring balance to client portfolios.
Financial services software and technology provider Fin365 has appointed a new executive chairman to the board to support the firm’s strategic growth plans.
The FSCP has issued a written direction to an adviser who charged clients “extraordinary fees” for inappropriate and conflicted advice, as well as encouraged them to switch their superannuation into a poorly performing product.
