IOOF places dealer groups under one manager
IOOF has appointed Mick Farrell to the newly created position of group general manager, dealerships.
According to an IOOF spokesperson, the organisation has decided to bring all of its advice groups under one division that Farrell will manage.
"Since we're becoming a larger organisation, it's appropriate that we resource the business appropriately to meet all the challenges and for the future," said the spokesperson.
The IOOF umbrella comprises of the dealer groups Bridges Financial Services, My Adviser, Consultum Financial Advisers and Lonsdale - along with a number of advisers from Plan B, which was acquired by IOOF in July last year.
"While each of those [dealer groups] have very different focuses, the challenges and opportunities for those businesses moving forward are very similar. So it's appropriate that one person manages all the issues and opportunities and how they're implemented within IOOF," said the spokesperson.
Farrell has been contracting to IOOF since October 2012, overseeing the Plan B business since its acquisition. He will report directly to IOOF managing director Chris Kelaher.
Farrell has consulted to the financial services industry for several years, working with ANZ, Zurich and Challenger.
Before his consulting roles, Farrell was the group managing director of the dealer group Garrisons. He has also worked at Merrill Lynch Private.
Recommended for you
AMP non-executive director Kathleen Bailey-Lord and Iress non-executive director Susan Forrester have been appointed to the national board of the Australian Institute of Company Directors.
Wealth manager JBWere has announced the launch of two fixed income strategies for wholesale clients, backed by UBS Asset Management.
Firetrail Investments has confirmed the departure of four executives over the last quarter, including head of investment strategy Anthony Doyle.
Ares Management has announced a new offering aimed at providing Australian wholesale clients, investors access to its private equity investment strategies, anchored in secondary investments.
