IOOF brings in new CFO from NZ

IOOF's new CFO comes from NZ telecom Spark.

David Chalmers will replace David Coulter, who will leave the business in February.

The appointment is the result of a senior management review instituted by CEO Renato Mota after findings from the Royal Commission resulted in legal action against several IOOF directors, seeking to disqualify them from running a superannuation fund.

Mota says that the changes reflect an incremental change in the size and scale of the organisation over the last few years. "The right leadership team and organizational structure are fundamental to our future growth strategy as we continue to stabilize and grow the business and rebuild trust with our stakeholders," Mota said.

Chalmers was an associate director at Macquarie Capital from 2002 - 2010, and has had executive experience with iSelect and MediaWorks in recent years. He's been with Spark since 2016.

Mota says that the appointment of Chalmers will help move the business forward: "I am confident we are putting in place a team that through IOOF's advice-led strategy, will deliver a market leading proposition."