IOOF names new SFG CEO


IOOF has named a new chief executive for Shadforth Financial Group.
The company announced today that it had recruited News Corp Australia general manager, Angus Benbow to the role.
It noted that Benbow had previously held positions at Perpetual where he was focused on high net worth clients.
Confirming the appointment, IOOF managing director, Chris Kelaher said he believed Benbow would bring experience in financial services, business strategy and general leadership.
Kelaher paid tribute to the strong contribution of previous CEO Nick Bedding who left SFG in late August for a career break after seven years at the company.
Recommended for you
Sequoia Financial Group has declined by five financial advisers in the past week, four of whom have opened up a new AFSL, according to Wealth Data.
Insignia Financial chief executive Scott Hartley has detailed whether the firm will be selecting an exclusive bidder for the second phase of due diligence as it awaits revised bids from three private equity players.
Insignia Financial has reported a statutory net loss after tax of $17 million in its first half results, although the firm has noted cost optimisation means this is an improvement from a $50 million loss last year.
With alternative funds being described as “impossible” for fund managers to target towards advisers without the support of BDMs for education, Money Management explores the evolving nature of the distribution role.