IOOF names Acting CEO

IOOF has announced to the ASX that Renato Mota, currently group general manager, wealth management, has been appointed acting chief executive officer.

Mota succeeds managing director, Christopher Kelaher, who agreed to step aside immediately "pending resolution of proceedings brought by the Australian Prudential Regulation Authority (APRA)" last week. Also stepping aside is chair, George Venardos.

Mota joined IOOF in 2003 and was appointed to the newly-created role of group general manager, wealth management in December 2015.

The ASX announcement said that chief financial officer, David Coulter, company secretary, Paul Vine, and general counsel, Gary Riordan, will remain in their roles but will have no responsibilities in relation to the management of the IOOF trustee companies and no engagement at all with APRA while the proceedings are underway.