IFSA fills deputy head position
TheInvestment and Financial Services Association(IFSA) has appointed a deputy chief executive officer, John O'Shaughnessy, following the recent decision by the then deputy Jo-Anne Bloch to relocate to the United Kingdom.
O’Shaughnessy, who commenced in his new role today, joins the industry association after an extensive career in the financial services industry.
Prior to joining IFSA, O’Shaughnessy held a variety of senior management roles withTower,AMP, Westpac, T&G and Colonial Mutual (nowColonial First State).
IFSA chief executive officer, Richard Gilbert says O’Shaughnessy will play an integral part within the peak association over coming years.
Gilbert says that it is O’Shaughnessy’s wealth of industry knowledge that makes him an ideal candidate to fill the pivotal role within the financial services representative body.
IFSA has been without a deputy chief executive since the departure of Bloch in February during which time it has been embroiled in debate withAssociated of Superannuation Funds of Australia(ASFA) over the disclosure and fee structures of superannuation and managed funds.
The failure to reach a full agreement with ASFA will result in the Government imposing its own fee model.
Today, a spokesperson for the office of Parliamentary Secretary to the Treasurer, Ross Cameron said the Government would continue to liaise with both IFSA and ASFA as it works towards a single fee model as there were a number of areas the two bodies were in agreement.
However the spokesperson was unable to indicate a time frame in which the model would be released.
Recommended for you
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.
