Insignia Financial chief executive, Renato Mota, has announced he will step down from the company after 20 years in February 2024.
Mota joined the firm in 2003 and held a variety of roles including general manager of distribution, group general manager for wealth management, leading the acquisition of MLC and was appointed its chief executive and managing director in 2019.
Prior to joining Insignia, he worked at Rothschild and big four banks NAB and ANZ.
Last year, he also joined the board of the Financial Services Council (FSC).
In a statement to the ASX on 20 October, the firm said it has commenced a search for a new CEO to replace him.
Insignia Financial chairman, Allan Griffiths, said, “Over his time with the group, Renato has been instrumental in transforming IOOF and ultimately Insignia Financial into one of Australia’s leading wealth management organisations.
“His ability to create a purpose-led culture and execute a bold strategy in the face of numerous challenges, including a global pandemic, are marks of his outstanding leadership qualities. We wish him well in his future endeavours.”
Mota said: “It’s been a privilege to be part of Insignia Financial over the past 20 years and its CEO over the last five. Having established a clear path for the next three years, I feel this is the right inflection point to provide the business with fresh perspective to continue the journey.
“To have created an industry leader and purpose-led culture, driven by an ambition to improve the financial wellbeing of all Australians, is something I’ll always be proud of. I know I will leave behind an incredibly talented and passionate team who will continue to build the organisation for the benefit of all stakeholders. I thank all of our people for their friendship and support, and wish them all the very best.”
