Registrable superannuation entity licensees

Questor Financial Services Limited, IOOF Investment Management Limited and Australian Executor Trustees Limited, as licensees of registrable superannuation entities, are required to publicly disclose the remuneration details of its executive officers, and the other information and documents on this webpage.

For details about our registrable superannuation entities and their executive officers, please click on the following links:

Information about executive officers

Mr George Venardos

B.Com, FCA, FGIA, FAICD, FTIA

Non-Executive Director of:

  1. IOOF Investment Management Limited since 23 June 2009
  2. Australian Executive Trustees Limited since 24 January 2008
  3. Questor Financial Services Limited since 24 January 2008

Mr Venardos is an experienced director with broad listed company experience across a range of different industries including financial services, affordable leisure, oil and gas services and technology development.

Mr Venardos has over 30 years’ experience in executive roles in financial services, insurance and funds management. For a period of ten years, Mr Venardos was the Chief Financial Officer of Insurance Australia Group, and Chairman of the Insurance Council of Australia’s Finance and Accounting Committee. Mr Venardos was a director of Miclyn Express Offshore Ltd from 2010 to 2013.

Other current listed directorships

  • Chairman of Bluglass Ltd (Director since 2008)
  • Ardent Leisure Ltd (Director since 2009/Chairman since 2016)

Special responsibilities

  • Chairman of IOOF Holdings Ltd (As at 24 November 2016)
  • Member of the Risk and Compliance Committee
  • Member of the Remuneration and Nominations Committee
  • Chairman of the Remuneration and Nominations Committee (Appointed 22 February 2016)

Director's fees*

  • 2015 – Cash salary $141,008, Super $13,396
  • 2016 – Cash salary $37,608.69, Super $3,572.83

* Directors sit on multiple Boards and Committees within the IOOF Group. The 2016 remuneration figures represent an apportionment of the Director’s salary based on the amount of time spent at Board meetings of the 3 RSEs. It does not reflect the total remuneration package received by Directors for their directorships across the IOOF Group. The 2015 remuneration figure is not apportioned, and is consistent with amounts disclosed in the Annual Report. For further information on the total remuneration package of Directors please refer to the Remuneration Report.



Mr Christopher Kelaher – Managing Director

B.Ec, LL.B, F Fin.

Mr Kelaher is an executive director of:

  1. IOOF Investment Management Limited since 30 April 2009
  2. Australian Executive Trustees Limited since 25 October 2006
  3. Questor Financial Services Limited since 25 October 2006

He was appointed Managing Director of IOOF Holdings Ltd in May 2009 upon the Company's acquisition of Australian Wealth Management Limited (AWM), a company which he had been Managing Director of since 2006.

Before that, Mr Kelaher had been CEO of Select Managed Funds Ltd for nine years, a company which itself merged with AWM. Mr Kelaher is responsible for overseeing the strategic direction of the business as well as driving organic growth initiatives in each of the four main business segments. During his 25 year career in financial services, Mr Kelaher has been instrumental in executing multiple mergers and acquisitions that have added materially to the IOOF Group and its antecedent businesses.

Mr Kelaher also has extensive capital markets experience from his time with Citicorp where he assisted in the establishment of Citicorp Investment Management and Global Asset Management business in Australia and New Zealand.

Mr Kelaher holds a Bachelor of Economics and a Bachelor of Laws from Monash University and is a Fellow of the Financial Services Institute of Australia.

Other current listed directorships

N/A

Special responsibilities

  • Managing Director of the IOOF Group from 30 April 2009

Director's fees*

  • 2015 – Cash salary $1,169,279, Super $18,783
  • 2016 – Cash salary $14,082.41, Super $1,337.83

* Directors sit on multiple Boards and Committees within the IOOF Group. The 2016 remuneration figures represent an apportionment of the Director’s salary based on the amount of time spent at Board meetings of the 3 RSEs. It does not reflect the total remuneration package received by Directors for their directorships across the IOOF Group. The 2015 remuneration figure is not apportioned, and is consistent with amounts disclosed in the Annual Report. For further information on the total remuneration package of Directors please refer to the Remuneration Report.



Ms Jane Harvey

B.Com, MBA, FCA, FAICD

Non-executive Director of:

  1. IOOF Investment Management Limited since 14 December 2005
  2. Australian Executive Trustees Limited since 1 May 2009
  3. Questor Financial Services Limited since 1 May 2009

More than 30 years experience in financial and advisory services, governance and risk management.
Ms Harvey was formerly a Partner at PricewaterhouseCoopers.

Other current listed directorships

  • UGL Limited
  • DUET Finance Limited (a stapled entity within the ASX DUET group)

Special responsibilities

  • Member of the Remuneration Committee
  • Member of the Risk and Compliance Committee
  • Member of the Audit Committee

Director's fees*

  • 2015 – Cash salary $141,008, Super $13,396
  • 2016 – Cash salary $26,352.76, Super $2,503.21

* Directors sit on multiple Boards and Committees within the IOOF Group. The 2016 remuneration figures represent an apportionment of the Director’s salary based on the amount of time spent at Board meetings of the 3 RSEs. It does not reflect the total remuneration package received by Directors for their directorships across the IOOF Group. The 2015 remuneration figure is not apportioned, and is consistent with amounts disclosed in the Annual Report. For further information on the total remuneration package of Directors please refer to the Remuneration Report.


Mr Allan Griffiths

BBus, DipLl

Non-Executive Director of:

  1. IOOF Investment Management Limited since 23 June 2009
  2. Australian Executive Trustees Limited since 24 January 2008
  3. Questor Financial Services Limited since 24 January 2008

Allan was appointed to the board of IOOF Holdings Limited on 14 July 2014 as an Independent Non-Executive Director.

Mr Griffiths has held a number of executive positions within the financial services industry most notably as long term Chief Executive Officer AVIVA Australia and later, Managing Director South East Asia, AVIVA Asia Pte Ltd. Prior to joining Aviva, Allan held prominent positions with Norwich Union and Colonial Ltd.

He brings broad ranging skills such as superannuation, funds management and banking experience to the Board as well as a deep understanding of the insurance sector.

Mr Griffiths holds a Bachelor of Business, a Diploma in Life Insurance and has completed Business Management courses at Columbia University, Insead and the London Business School.

Shareholders will be asked to consider Mr Griffiths' appointment at the upcoming Annual General Meeting on 25 November 2014.

Other current listed directorships

N/A

Special responsibilities

  • Member of the Risk and Compliance Committee
  • Member of the Audit Committee

Director's fees*

  • 2015 – Cash salary $133,729, Super $11,858
  • 2016 – Cash salary $29,842.10, Super $2,835.00

* Directors sit on multiple Boards and Committees within the IOOF Group. The 2016 remuneration figures represent an apportionment of the Director’s salary based on the amount of time spent at Board meetings of the 3 RSEs. It does not reflect the total remuneration package received by Directors for their directorships across the IOOF Group. The 2015 remuneration figure is not apportioned, and is consistent with amounts disclosed in the Annual Report. For further information on the total remuneration package of Directors please refer to the Remuneration Report.


Ms Elizabeth Flynn

LL.B, Grad Dip AppCorpGov, FAICD, FGIA, FCIS, F Fin

Non-Executive Director of:

  1. IOOF Investment Management Limited since 15 September 2015
  2. Australian Executor Trustees Limited since 15 September 2015
  3. Questor Financial Services Limited since 15 September 2015

Ms Flynn has more than 30 years' experience in the financial services industry, including roles within law and corporate governance as well as executive responsibilities. From 1998 to 2010, Ms Flynn was the Chief Legal Counsel, Group Compliance Manager and Group Company Secretary of financial services group Aviva Australia, and a director of NULIS Nominees, Aviva Australian's superannuation trustee company. Prior to her time at Aviva, Ms Flynn spent 18 years as a commercial lawyer with Minter Ellison, including 8 years as a partner, specialising in managed funds, banking, securitisation and superannuation.

Ms Flynn is currently a non-executive director of life insurer AIA Australia Limited and a member of the Victorian Government's Emergency Services Superannuation Board, and was a director of Bennelong Funds Management Limited from 2015 to 2015. Ms Flynn also has a part-time role as General Counsel & Company Secretary of Save the Children Australia.

Other current listed directorships

  • AIA Australia Limited

Special responsibilities

  • Member of the Audit Committee
  • Member of the Risk and Compliance Committee

Director's fees*

  • 2015 – Ms Flynn was appointed Non-Executive Director effective 15 September 2015
  • 2016 – Cash salary $26,096.17 Super $2,479.14

* Directors sit on multiple Boards and Committees within the IOOF Group. The 2016 remuneration figures represent an apportionment of the Director’s salary based on the amount of time spent at Board meetings of the 3 RSEs. It does not reflect the total remuneration package received by Directors for their directorships across the IOOF Group. The 2015 remuneration figure is not apportioned, and is consistent with amounts disclosed in the Annual Report. For further information on the total remuneration package of Directors please refer to the Remuneration Report.

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Superannuation Trustee Executive Officers

Remuneration

Financial Year 2014/2015

  • David Coulter – Cash salary $335,925, Super $18,783
  • Mick Farrell – Cash salary $370,562, Super $18,783
  • Stephen Merlicek – Cash salary $389,979, Super $18,783
  • Renato Mota – Cash salary $370,024, Super $18,783
  • Gary Riordan – Cash salary $431,163, Super $18,783

Remuneration

Financial Year 2015/2016

  • David Coulter – Cash salary $383,066, Super $20,052
  • Mick Farrell* – Cash salary $224,767, Super $11,510
  • Stephen Merlicek – Cash salary $411,744, Super $20,052
  • Renato Mota – Cash salary $453,016, Super $20,052
  • Gary Riordan – Cash salary $438,287, Super $19,308

*Mick Farrell ceased employment with the Group on 22 January 2016.

The above information represents the fixed cash salary and superannuation for each Superannuation Trustee Executive Officer and does not reflect the total remuneration received. These individuals are also eligible for bonuses, performance rights and other benefits in performing their role. For further information on the total remuneration package of Superannuation Trustee Executive Officers for FY2016, please refer to the Remuneration Report.

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Retired Directors

Dr Roger Sexton AM

B.Ec. (Hons), M.Ec. Ph.D (Econ), FAICD, FAIM. SFFin, C. P Mgr, C.Univ

Retired as Non-Executive Director 24 November 2016:

  1. IOOF Investment Management Limited since 23 June 2009
  2. Australian Executive Trustees Limited since 1 May 2009
  3. Questor Financial Services Limited since 1 May 2009

Dr Sexton had more than 30 years’ experience in senior management in finance and the investment banking industry. He is a specialist in the areas of corporate reconstruction, mergers and acquisitions, and asset management. Dr Sexton is a Fellow of the Australian Institute of Management, a Fellow of the Australian Institute of Company Directors and a Senior Fellow of the Financial Services Institute of Australia.

Dr Sexton was awarded a Member of the Order of Australia in the 2011 Queen’s Birthday Honours.

Other current listed directorships

  • Beston Global Food Company Limited

Former listed directorships in the last 3 years

  • Yanghao International Ltd (Chairman from 2008 to 2011)

Special responsibilities

  • Chairman of IOOF Holdings Ltd (Until 24 November 2016)
  • Chairman of the Remuneration and Nominations Committee (Until 22 February 2016)
  • Member of the Remuneration and Nominations Committee
  • Chairman of Perennial Investment Partners Ltd
  • Member of the Audit Committee

Chairman's fees*

  • 2015 – Cash salary $251,531, Super $18,783, Post-Employment Benefits $57,191
  • 2016 – Cash salary $51,613.06, Super $4,903.24, Post-Employment Benefits $0.00

* Directors sit on multiple Boards and Committees within the IOOF Group. The 2016 remuneration figures represent an apportionment of the Director’s salary based on the amount of time spent at Board meetings of the 3 RSEs. It does not reflect the total remuneration package received by Directors for their directorships across the IOOF Group. The 2015 remuneration figure is not apportioned, and is consistent with amounts disclosed in the Annual Report. For further information on the total remuneration package of Directors please refer to the Remuneration Report.



Mr Ian Griffiths

C.Acc, DipAll, FAICD

Retired as Non-executive Director October 2015:

  1. IOOF Investment Management Limited since 23 June 2009
  2. Australian Executive Trustees Limited since 25 October 2006
  3. Questor Financial Services Limited since 25 October 2006

Former Executive Director of Australian Wealth Management Ltd and Select Managed Funds Ltd, from 1997 until acquisition by the IOOF Group in 2009.

Mr Griffiths has more than 40 years experience in the financial and superannuation industries with a superannuation administration and business consulting career commencing with AMP in 1972. Mr Griffiths has extensive industry knowledge and skills, particularly in operations, mergers and acquisitions.

Special responsibilities

  • Member of the Remuneration Committee
  • Member of the Audit Committee

Director's fees*

  • 2015 – Cash salary $141,081 Super $13,403
  • 2016 – Cash salary $6,603.07, Super $627.29

* Mr I Griffiths resigned as Non-Executive Director, effective 2 October 2015.
Directors sit on multiple Boards and Committees within the IOOF Group. The 2016 remuneration figures represent an apportionment of the Director’s salary based on the amount of time spent at Board meetings of the 3 RSEs. It does not reflect the total remuneration package received by Directors for their directorships across the IOOF Group. The 2015 remuneration figure is not apportioned, and is consistent with amounts disclosed in the Annual Report. For further information on the total remuneration package of Directors please refer to the Remuneration Report .


Mr Kevin White

B.Eng (civil), M.Eng.Sci., M.Admin.

Retired as Non-executive Director May 2014

Mr White graduated as a professional engineer in 1973 and has spent the majority of his working life in the financial services industry and is currently Managing Director of Easton Investments Ltd, a small financial services company listed on the Australian Securities Exchange.

Special responsibilities

  • Member of the Risk and Compliance Committee
  • Member of the Audit Committee

Director's fees*

  • 2014 – Cash salary $9,132, Super $868

* The Director's 2014 remuneration figures are calculated using a time-based allocation method, with the figure representing the amount of time spent on Trustee matters for each RSE board, per annum. Cash salary $251,531, Super $18,783, Post-Employment Benefits $57,191.