The Financial Services Council (FSC) chief executive, Sally Loane, will step down from the role at the end of the year after seven years at the helm.
FSC chair, David Bryant, president, Pacific Region and CEO of Mercer Australia, said Loane had provided strong leadership for the FSC through a period of unprecedented change, driving its contribution to the development of positive policy and industry reform, for the benefit of all Australians.
Bryant said: “Sally strengthened the FSC’s contributions in a range of important policy areas - for our industry and the consumers we serve; supported our members as they sought to undertake an extensive program of regulatory change; and expanded the FSC’s membership and engagement across what is a broad industry.
“We thank Sally for her contribution over the past seven years and wish her every success in the next stages of her career.”
Loane said she was proud to have led a team that proactively developed policy reforms to assist the members; reforms which are beneficial for consumers of financial services, and which have helped restore trust in the sector.
“Some of the more significant challenges have included initiating life insurance’s Trowbridge Review, developing the life Codes, and advocating for a sensible Compensation Scheme of Last Resort,” she said.
“I have enjoyed working collaboratively with industry organisations here and overseas, regulators, politicians, Government bodies, and important stakeholders like consumer bodies, mental health leaders and the medical community.
“I am proud of the funds we raised over five years with our members to support First Nations Foundation’s work in Aboriginal communities.
“If one learning stands out, it is how financial independence is a life-changing factor for women, and the role has given me the opportunity to communicate this message.”
The FSC board was undertaking a search for the CEO role.