IOOF expands funds management team
IOOFretail funds management general manager Jarrod Brown has boosted his team with the appointment ofANZ Managed Investmentsexecutive Andrew Polson into the role of head of funds management product.
The role has been newly formed and will be filled by Polson from early next week who will operate from the group’s Melbourne office and report through to Brown.
Polson’s most recent role at ANZ was with the bank’s Personal Advisory Services section working on its financial planning distribution strategy.
According to IOOF, as a member of the ANZ Managed Investments product team prior to its integration with ING, Polson was involved in product development, training, distribution support, market and segment research and maintenance of retail product offers in the area of investment trusts.
Prior to this he worked on a number of other projects focussed on advice within the bank and has also worked with the National Australia Bank in his nine years in the financial services industry.
His appointment follows a busy 2003 for IOOF which listed in early December at $3.80, a premium of 65 cents over its facility price of $3.15 per share. At the time of writing today the shares were $4.54.
In October the group announced it would not renew the contract of its chief executive Rob Turner, who would leave the group in May 2004 after seven years at the helm, and also appointed Brown to his current role after Richard Nunn moved toColonial First Statein July.
A move by financial advisers at the group’s annual general meeting in November to extend Turner’s tenure was rebuffed by the board who stated a change in executive structure was necessary as part of the group’s listed structure.
AUTHOR
Jason Spits
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