Spotlight on 2017's departing veterans

Thursday 7th December 2017

Industry Veterans

Well, 2017 has been a big year - aren't they all - and for some of our industry's longest-serving employees it has signalled time for a change. This week, we pay homage to a dozen of those who have served impressive innings at their respective organisations (with 221.5 years served between them) and are moving on to pursue new opportunities both in and out of the industry.

Between 5-10 years

Richard Dinham - 7 years

Richard Dinham

Title: Former Head of Research, StatePlus

Appointment date: Joined StatePlus in 2010, appointed as Head of Research in 2012.

Departure date: July 2017

Successor: Unknown

What's next: Richard told Industry Moves that following some quality time with his family, he looks forward to investigating what could be next.

What he had to say: "When I joined in 2010 there was an investment team of one person, eventually growing to seven some years later. Being there at the start enabled me to think out of the box and shape the nature and direction of the approach to investing so as to be differentiated and better suited to clients of StatePlus."

Read Richard's full Q&A here.

Geoff Lloyd - 7 years

Geoff Lloyd

Title: Managing Director and Chief Executive Officer, Perpetual

Appointment date: Joined Perpetual in 2010, appointed as MD and CEO in 2011.

Departure date: June 2018

Successor: Perpetual is looking to appoint Lloyd's successor with the intention of allowing for a "smooth leadership transition."

What's next: As Geoff's departure isn't until mid-next year, details of his next step are not yet known. He says that he will leave as a "friend and supporter" of the firm.

What he had to say: "It has been such a privilege to lead Perpetual. As we started to build the company strategy for the coming three to five years, I felt that I wouldn't be able to commit over the long term and so now is an important time to hand over the leadership of Perpetual."

Read more here.

Steve Merlicek - 7.5 years

Steve Merlicek

Title: Former CIO, IOOF

Appointment date: October 2009

Departure date: June 2017

Successor: Dan Farmer

What's next: Steve has continued his association with IOOF by remaining as a member of the firm's investment management committee.

What IOOF had to say: "Steve has made an outstanding contribution to IOOF and has been instrumental in delivering impressive investment outperformance over the long-term. Steve has also built a strong and capable investment team, testament to which is the elevation of Dan Farmer to the Chief Investment Officer role.” - Managing Director, Christopher Kelaher.

Read more here.

Gail Pemberton - 10 years

Gail Pemberton

Title: Former Chair, OneVue

Appointment date: 2007

Departure date: November 2017

Successor: Ronald Dewhurst

What's next: Gail told Industry Moves that while she's currently happy with both her personal and professional life, she may take on another board role in the future.

What she had to say: "I think that after 10 years as a Director one does start to lose some degree of independence of thought and at some stage, whether it’s after 10 or 12 years of tenure, Directors should retire. There’s never a perfect moment but there are different circumstances for each company and each Chairman/Director but in the case of OneVue, I believe the time is right for me to hand [over] the leadership."

Read Gail's full Q&A here.

Between 11-20 years

Andrea Slattery - 14 years

Andrea Slattery

Title: Former Chief Executive Officer & Managing Director, SMSF Association

Appointment date: 2003

Departure date: May 2017

Successor: John Maroney

What's next: Andrea said her intention is to further her professional career as a non-executive director. She will remain on the SMSF board.

What she had to say: "Both the growth of our superannuation sector, its leadership in advocating dignified retirement and national prosperity as well as its integrity, are testimony to what has been achieved, making this an ideal time to pass [on] the baton for the next growth phase for the SMSF sector and the Association.”

Read Andrea's Q&A with Sally Loane here.

Trish Donohue - 17 years

Trish Donohue

Title: Group Executive, Investment Services & Solutions, Cbus

Appointment date: Joined Cbus in January 2000, appointed as Group Exec Investment Services & Solutions in 2004

Departure date: December 2017

Successor: Cbus confirmed that the structure of the investment team will be reviewed by CEO, David Atkin and CIO, Kristian Fok, over the coming months.

What's next: Trish told Industry Moves that she is not going to rush her next steps and that she's looking forward to having some time and headspace. She may consider internal options or board roles.

What she had to say: "It would be easy to continue on as I’ve loved working at Cbus; I love the people here and what we do. But as we all do from time to time, I’ve been thinking more about the ‘where to next’. It’s also the right time for Cbus. I have been so lucky to have been able to lead the investment area through many challenges and new approaches over nearly 18 years. We are now on a brand new exciting investment journey and it’s the right time for me to pass on this leadership to others. "

Read Trish's full Q&A here.

Joanne Warner - 20 years

Joanna Warner

Title: Former Head of Global Resources, Colonial First State Global Asset Management

Appointment date: Joined CFSGAM in 1997, was appointed as Head of Global Resources in 2010

Departure date: August 2017

Successor: Todd Warren

What's next: Joanne told Industry Moves that she has no immediate plans. With her husband retiring from his job and her daughter recently finishing university, Joanne plans to spend quality time with her family "travelling, sailing and scuba diving."

What she had to say: " I am very proud of [my team's] achievements and am confident of their success in the future. My role was primarily to provide the opportunity to learn about investing in our industry by getting out there and doing it. They are smart and highly motivated, and after many years of honing their skills, the team is a well-oiled machine. It is the perfect time to step away."

Read Joanne's full Q&A here.

Kerrie Williams - 20 years

Kerrie Williams

Title: Director of Strategy and People, Frontier

Appointment date: 1997

Departure date: December 2017

Successor: Frontier's incoming CEO, who is yet to be named, will be responsible for deciding on how to proceed with the vacant Director of Strategy and People role.

What's next: Following a break over the summer, spent with her teenage daughter, Kerrie plans to consider new opportunities in the New Year. Kerrie said that the non-executive path is one that she's keen to explore, but "other ideas have also been emerging".

What she had to say: "After celebrating my 20 year anniversary with Frontier in September, it seemed like the right time to tackle new opportunities. I also have a strong sense of achievement about the progress Frontier has made in recent years as a business and know that the team is in great shape, with the next generation of leaders coming through."

Read Kerrie's full Q&A here.

Naomi Denning - 23 years

Naomi Denning

Title: Former Managing Director & Head of Asia Pacific Investment Business - Willis Towers Watson

Appointment date: 1994

Departure date: September 2017

Successor: Taro Ogai

What's next: Naomi and her family recently moved to Canada, which has always been a dream of hers. After a few months of rest to recharge and help settle her family in Canada, she plans to work again in 2018, and put to good use her "investment experience, passion for diversity and inclusion and helping women progress, and generally helping progress good governance."

What she had to say: “I am leaving behind a very strong team with invaluable client experience and insights. I have total confidence in them and I am convinced they will take the business forward to achieve more success. Naturally, I will miss them all, however the time is now right for another colleague to have the opportunity to lead."

Read Naomi's full Q&A here.

John McNally - 25 years

John McNally

Title: Former CEO, WA Super

Appointment date: Joined WA Super in 1992 and was appointed to CEO in 2006.

Departure date: January 2017

Successor: Fabian Ross

What's next: John has formally retired.

What WA Super had to say: WA Super Chairman Tim Shanahan thanked John McNally for his considerable contribution

Read more here.

Over 30 years

Bob Lette - 33 years

Bob Lette

Title: Chair, BUSSQ

Appointment date: Joined BUSSQ board in 1984, appointed as Chair in 1990

Departure date: December 2017

Successor: A replacement will be announced following BUSSQ's December AGM.

What's next: Bob told Industry Moves that after 33 years of service, he's achieved all that he set out to do and at the end of the month he will be ready to step away.

What he had to say: "It’s been great to be a part of building the business of BUSSQ from the start. I’m very passionate about getting the best return for our members, who have a shorter working life than in many other industries. Even if they stay in the industry for a full 40 years, getting enough to retire on could be a challenge so it’s been satisfying to help them obtain the best, most comfortable retirement possible."

Read Bob's full Q&A here.

Gerard Parlevliet - 38 years (18 with CBA, 20 with Commonwealth Group Super)

Gerard Parlevliet

Title: Former CIO, Commonwealth Bank Group Super

Appointment date: Joined Commonwealth Bank Group Super in 1996, appointed as CIO in 2010

Departure date: April/May 2017

Successor: Ruwanie Dias has been acting as CIO since March. No news of a permanent replacement has been made.

What's next: Since departing from his executive role, Gerard has joined the boards of Prime Super and La Trobe Financial.

What Group Super had to say: Group Super CEO, Doug Carmichael, said that Parlevliet "has made a tremendous contribution to the organisation and is highly respected throughout the industry."

Read more here.

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