IOOF has announced three executive committee appointments as the firm entered a new phase of its transformation following its acquisition of ANZ’s Pension and Investments business (P&I).
Frank Lombardo was appointed as chief operating office, Darren Whereat as chief advice officer, and Mark Oliver as chief distribution officer.
Lombardo’s role would now encompass new areas such as transformation and integration, a new commercial management capability, and supporting the firm’s ‘client first’ thinking.
Whereat’s role would focus on consistency and further cementing the central role advice was set to play in the firm’s future strategy.
The new chief distribution officer would reinforce the increased scale and scope of IOOF’s product and client businesses following the completion of the P&I transaction as well as incorporating responsibility for group marketing.
IOOF chief executive, Renato Mota, said the appointments would better align its terms and reflect the integration of the recent acquisition of ANZ’s P&I.
“The recent increase in our size and scale through the P&I acquisition has improved our ability to invest in and deliver market leading solutions, offering more value to our clients,” he said.
Mota noted that IOOF’s head of marketing, Candice Spence would leave the company after 14 years.