Skandia chief leaves group following IOOF acquisition

IOOF/chief-executive/

23 March 2009
| By Corrina Jack |
image
image
expand image

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.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

2 months ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months 1 week ago

A Sydney financial adviser has been permanently banned from providing any financial services, with the regulator deriding his “lack of integrity, trustworthiness and prof...

3 weeks 2 days ago

Minister for Financial Services, Stephen Jones, has provided further information about the second tranche of the Delivering Better Financial Outcomes (DBFO) reforms....

2 weeks 1 day ago

One licensee has lost 27 advisers in the past week, now sitting at zero, according to the latest Wealth Data figures....

3 weeks 2 days ago

TOP PERFORMING FUNDS