At least four people are leaving the Investment and Financial Services Association (IFSA) as the organisation prepares to announce significant changes later this week.
Super Review has confirmed that as well as deputy chief executive officer John O’Shaughnessy and media spokesman Simon Disney, at least two other staffers will be leaving the organisation.
Both O’Shaughnessy and Disney were key players within IFSA prior to the departure of former chief executive Richard Gilbert. However Gilbert, who resigned his position, was succeeded by former NSW Parliamentary Liberal Leader John Brogden last year.
O’Shaughnessy announced his departure earlier this year, while Disney confirmed he would be leaving the organisation last week.
One of Brogden’s earliest appointments as chief executive was that of communications director Stephen Woodhill, who was formerly working in the media area of the Australian Securities and Investments Commission.
Future Group is set to take on nearly $1 billion in funds under management (FUM) and welcome more than 100,000 new members following two significant successor fund transfers.
Insignia’s Master Trust business suffered a 1.9 per cent dip in FUA in the third quarter, amid total net outflows of $1.8 billion.
While the Liberal senator has accused super funds of locking everyday Australians out of the housing market, industry advocates say the Coalition’s policy would only push home ownership further out of reach.
Australia’s largest superannuation fund has confirmed all members who had funds stolen during the recent cyber fraud crime have been reimbursed.