IOOF execs depart following role merge

By Craig Phillips

Furtherrestructure at newly listedIOOFwill see two senior staffers depart the group in light of plans to consolidate the firm’s executive sales roles and create a single group head of sales.

Head of retail distribution Mark Knight and national manager of adviser services Paul Forbes will both depart IOOF, with their roles being combined into a single national sales role, according to IOOF retail funds management general manager Jarrod Brown.

The group is also in the final throes of appointing a new head of marketing, and recently appointed formerANZ Managed Investmentsexecutive Andrew Polson as head of funds management product.

Brown says both Forbes and Knight opted not to apply for the consolidated sales role and have departed, with the pair respectively having joined IOOF via its acquisition of AM Corporation and its relationship withPerennial Investments.

“Paul and Mark were both instrumental in the development and growth of their respective businesses — AM prior to its acquisition by IOOF and Perennial,” Brown says.

Brown says that a short and selective search process is underway with a new appointment to the role expected shortly.

“We have a narrow list of potential applicants for the role and are down to seven individuals.”

In October the group announced it would not renew the contract of its chief executive Rob Turner, who will leave the group in May this year after seven years at the helm.