Industry Fund Services' general manager resigns
The general manager of Industry Fund Services (IFS), David Haynes, has confirmed his resignation following a restructure of IFS' parent company, Industry Super Holdings.
The restructure will see the three companies that fall under Industry Super Holdings - IFS, Industry Funds Management (IFM) and Members Equity Bank - separate to form three distinct businesses, Haynes said.
"I think it became increasingly clear that their different business plans required different styles," he said.
This has resulted in a review of the executive management structure of the businesses and Haynes' resignation effective the end of December.
As previously announced, former Deloitte and National Australia Bank executive Kay Thawley will take on the newly-created role of IFS chief executive.
Haynes has been with IFS since 2002 and has held the role of general manager since 2004 in which he had responsibility for financial planning, insurance broking and retail products.
Haynes said he remains very positive about IFS' prospects.
Recommended for you
The new financial year has got off to a strong start in adviser gains, helped by new entrants, after heavy losses sustained in June.
Michael McCorry, chief investment officer at BlackRock Australia, has detailed how investors are reconsidering their 60/40 portfolios as macro uncertainty highlight the benefits of liquid alternatives.
Having reset its market focus to high-net-worth advisers, Praemium’s administration solution has been selected by Bell Potter in a deal that increases the platform's funds under administration by $6 billion.
High transition rates from financial advisers have helped Netwealth’s funds under administration rise by $3.7 billion in the fourth quarter of FY25.
