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Hartley oversees Insignia restructuring and exits

Insignia Financial has announced a new operating model and key senior executive changes.

The new model sees the exit of Frank Lombardo, Mark Oliver and Chris Weldon.

The company has announced that the new structure will centre around four dedicated lines of business: Asset Management, Superannuation (Master Trust), Wrap Platform and Advice.

It said each business line will be led by an executive with end-to-end accountability to drive positive sustainable growth and profitability, improve customer outcomes and the customer experience.

The new leadership team said it was a mix of existing executives and new external appointments including:

Renee Howie as Chief Customer Officer, with a commencement date to be determined. As Chief Customer Officer, Ms Howie will have responsibility for Advice and Marketing, creating a continuum of brand awareness, customer engagement, guidance, through to comprehensive advice.

Liz McCarthy as CEO of MLC Expand, commencing 29 July. As CEO of MLC Expand, Ms McCarthy will be responsible for Insignia Financial’s Wrap Platforms business.

Jason Sommer as Chief Operating Officer, commencing 22 July. As Chief Operating Officer, Mr Sommer will lead the Strategy and Enterprise Services functions.

CEO Superannuation – an appointment has been made and will be announced in the coming weeks. The CEO Superannuation will be responsible for Insignia Financial’s Master Trust business.

These new appointments join the following existing executives on the new Insignia Financial leadership team:

Garry Mulcahy – CEO MLC Asset Management

David Chalmers – Chief Financial Officer

Mel Walls – Chief People Officer

Anvij Saxena – Chief Risk Officer

Lawrence Hastings – Chief Legal Officer

Adrianna Bisogni – Group Company Secretary

Commenting on the changes, Insignia chief executive, Scott Hartley said “Under our new operating model, each line of business will be led by an executive focused on specific customer segments and competitive landscapes, allowing for tailored strategies that drive profitable growth and enhance customer satisfaction . This new structure will provide clear lines of accountability, enabling more effective and timely decision-making, to achieve greater efficiency and cost-effectiveness and enhance Insignia Financial’s risk culture and governance.