IOOF names new head of distribution

IOOF Investment Managementhas filled the last of its vacant senior management roles, with Andrew Stewart joining the group as head of distribution.

The role was created in February this year when IOOF announced it would consolidate its two existing executive sales roles into that of a single group head of sales.

As a result, head of retail distribution Mark Knight and national manager adviser services Paul Forbes both departed the group, leaving the door open for Stewart, who will step into the role in May.

Stewart makes the move to IOOF fromColonial First State Investment Managers(Australia), where he has spent the last eight years.

His most recent position at CFS was national account manager based in Sydney, prior to which he was state manager Victoria/Tasmania, based in Melbourne.

Ironically, Stewart’s last internal move at CFS was the result of newly appointed CFS distribution head and former IOOF executive Richard Nunn’s shake-up of the CFS distribution team.

Prior to this Stewart held business development positions with CFS andSealcorpin Queensland.

Stewart will now be responsible for IOOF distribution strategy across all distribution channels including IOOF’s core platform IOOF Portfolio Service and the IOOF/Perennialinvestment products.

Other recent appointments at IOOF include that of former JP Morgan Fleming Asset Management head of Americas Ron Dewhurst as managing director, former ANZ executive David Arnold as head of marketing and formerANZ Managed Investmentsexecutive Andrew Polson as head of funds management product.