- Industry Bodies Name New CEOs
- Former MLC GM to Head Boutique Advice Group
- New AMP Chair Steps Into Role
Industry Bodies Name New CEOs
The Financial Adviser Standards and Ethics Authority (FASEA) and the Australian Financial Complaints Authority (AFCA) have named new chief executives choosing a former APRA general manager and UK lawyer, respectively, to head up their operations.
FASEA Chair Catherine Walter announced the appointment of Stephen Glenfield as its chief executive, completing an executive recruitment process that began when former chief executive Deen Sanders stood down from the role (see: Sanders Steps Down as FASEA CEO).
Glenfield was formerly a general manager with the Australian Prudential Regulation Authority and has also worked with the International Organisation of Pension Supervisors, the Victorian Financial Institutions Commission and KPMG.
Glenfield begin in the new role on 1 August 2018 and Dr Mark Brimble will continue to act as FASEA’s interim managing director until that date.
Meanwhile, AFCA has named David Locke as its the Chief Ombudsman and Chief Executive, succeeding Shane Tregillis who held the role for seven year with the Financial Ombudsman Service, which has been rolled into AFCA along with the Credit and Investments Ombudsman (CIO) and the Superannuation Complaints Tribunal (SCT).
Locke will move from his role as Assistant Commissioner, Charity Services at the Australian Charities and Not-for-Profits Commission. He is a former Executive Director of Charity Services at the Charity Commission of England and Wales, is qualified as a lawyer in the UK, and has also worked as an adviser to several international governments on the regulation of non-government organisations.
Former MLC GM to Head Boutique Advice Group
MLC General Manager, Garvan and MLC Financial Planning, Matthew Fogarty has been named as the Chief Executive of privately-owned advice group Fitzpatricks Private Wealth.
Fogarty takes on the role from Founder and Director, John Woodley who will move into the role of Executive Director, overseeing advice across the Fitzpatricks Financial Group and focusing on mentoring and coaching advisers.
Fitzpatricks Group Chief Executive, John McMurdo said the appointment of Fogarty and new role for Woodley would allow the group to pursue further innovations as a wealth management firm.
New AMP Chair Steps Into Role
The former Chief Executive Officer of the Commonwealth Bank, David Murray has taken up his new role as Chair of the AMP Board after agreeing to do so on 4 May 2018.
Murray steps into the role after the completion of required appointment processes, taking over the role from interim Executive Chairman, Mike Wilkins who has returned to the role of acting Chief Executive.
Wilkins will remain in that role until the appointment of a new Chief Executive at which time he will return to his role as a Non-Executive Director of the Board.
Murray said his immediate focus “…will be on renewing the Board and strengthening our governance framework. Remediation of customers and rebuilding relationships with regulators will also be priorities”.
AMP also announced the former Executive Chairman, Investment Banking and Capital Markets, of Credit Suisse Australia, John O’Sullivan had joined the Board as a Non-Executive Director, effective 20 June 2018.
O’Sullivan has held roles as the General Counsel of the Commonwealth Bank of Australia and as a partner at legal firm Herbert Smith Freehills.
