Skandia chief leaves group following IOOF acquisition


Former Skandia chief executive Andrew Black has been made redundant following a restructuring as a result of the recent acquisition of Skandia by IOOF.
Black was made redundant over a week ago after around one year with the group, a spokesperson said.
The move follows IOOF’s announcement earlier this month that it had purchased Skandia Australia and Intech Investments from the Old Mutual Group.
The Skandia purchase followed the merger of IOOF and Australian Wealth Management (AWM).
Chris Kelaher had been named as the man who would become managing director of the merged IOOF and AWM businesses, but a spokesperson for IOOF this morning would not confirm who would be leading the new IOOF business.
Recommended for you
Trustee and fund administration platform MSC Group has promoted Shelley Brown as its chief operations officer, having successfully completed the integration of the Certane Corporate Trust business.
Australian Unity’s group managing director and chief executive has announced his plans to retire at the end of the year after two decades leading the company.
TAL has appointed a senior manager for investment strategy and portfolio management who joins from a lead role at AIA.
Global wealth management platform FNZ has appointed a new group head of APAC, while boutique investment manager TWC Invest welcomes a chief technology officer.