Former Skandia chief executive Andrew Black has been made redundant following a restructuring as a result of the recent acquisition of Skandia by IOOF.
Black was made redundant over a week ago after around one year with the group, a spokesperson said.
The move follows IOOF’s announcement earlier this month that it had purchased Skandia Australia and Intech Investments from the Old Mutual Group.
The Skandia purchase followed the merger of IOOF and Australian Wealth Management (AWM).
Chris Kelaher had been named as the man who would become managing director of the merged IOOF and AWM businesses, but a spokesperson for IOOF this morning would not confirm who would be leading the new IOOF business.
