The Financial Services Council has announced a replacement for departing CEO, John Brogden, who will leave the role in January next year.
Sally Loane, a former journalist and broadcaster, who has been the director of media and public affairs for Coca-Cola Amatil for the past eight years, will take on the CEO role, effective 8 December.
Ms Loane is also a Director of Waratahs Rugby and SCEGGS Darlinghurst, is deputy chair of the Committee for Sydney, Governor of the Cerebral Palsy Research Foundation and a member of the Salvation Army’s Media Advisory Board.
FSC Chairman, Greg Cooper, said Ms Loane would bring a strong background in media and corporate reputation to the FSC.
“Her skills and experience will be critical as financial services moves from an era of the most significant changes in regulation and legislation in its history to its next phase of being an export and growth industry for Australia,” Mr Cooper said.
Commenting on her appointment, Ms Loane said building trust and confidence in financial services would be a significant focus for the immediate future of the industry.
“My initial mandate will be to focus on three key areas for the future of financial services.
“The first will be to establish a platform for Australia to develop a retirement outcomes policy. This is critical as Australians are living longer and need to ensure they can live comfortably in retirement.
“The second, to ensure financial services has a voice of influence in the debate on the tax and federation white papers − an area which is well overdue for reform.
“And the third is to contribute to Australia’s future economic growth through building the right regulatory architecture so Australian can develop a significant presence in the Asian Region,” Ms Loane said.
With the greatest of respect, Ms Sally Loane may well be highly qualified and a brilliant, competent business entrepreneur, but I still question the appointment of someone who it appears has no experience in the financial services industry.
With rampant and continuing change. surely someone who has experience and first hand knowledge of the industry would be a far more desirable choice.
As an advisor who has questioned the Financial Services’ Council’s often times negative attitude towards commission based selling, I just wonder if we are going to get more of the same from yet another identity who does not understand the vital importance of the commissioned based advisor.
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