SFG, Fortnum and Lonsec Add Senior Names to Teams

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Shadforth Financial Group (SFG) has named the successor to former chief executive Nick Bedding, naming a senior executive from News Corp Australia as the new head of the group.

The IOOF owned financial planning group will be headed by Angus Benbow, who will join SFG in November after having spent nearly a year with News Corp as general manager and having previously spent seven and a half years with Perpetual.

Benbow has also worked with global management consulting firm Booz and Company and was an officer in the Royal Australian Navy and takes over the vacant role of chief executive after Bedding left in August after seven years with the group.

 

In related news former SFG chief managing director Tony Fenning has joined independently owned Fortnum Financial Group as a non-executive director.

Fenning is also a non-executive director of Class Super but is best known for heading up Tynan Mackenzie from 1999 to 2006 and then being involved with SFG as chief executive, managing director and special adviser over the period from 2006 to 2015.

Fortnum Financial Group, Chair, Ray Miles said Fenning was well regarded and highly experienced and his addition to the Fortnum board would “help take Fortnum to the next stage in our journey”.

Fenning’s son, Matthew Fenning, will also join Fortnum having signed with Sydney-based Fortnum principal practice Fortuity Strategic Advisors as a director and financial adviser, moving over from AMP Financial Planning.

Fortnum also recently signed a deal with platform provider HUB24 to white label the latter’s managed account and superannuation services for use with existing and new clients.

 

Research house, Lonsec has named a former research manager at van Eyk and former chief investment officer (CIO) for a super fund as its new chief executive.

Lonsec said that former Energy Industries Super Scheme (EISS) CIO Matt Olsen will take on the role at the research house vacated by the departure of David Erdonmez in June this year.

Olsen had left EISS in August of this year, after 16 months in the role and was previously head of research at Select Investment Partners and prior to that was deputy CIO and head of manager research at van Eyk.

Lonsec Research, Director and Lonsec Fiscal, Joint CEO, Amanda Gillespie said Olsen had extensive investment and research experience and skills would be responsible for managing the research team, overseeing the implementation of Lonsec’s investment research process for financial advisers, as well as supporting the evolution of its service offering.