Registrable superannuation entity licensees

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 links below:

IOOF Investment Management Limited

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Australian Executor Trustees Limited

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Information about executive officers

Current executive officers

Mr Martin Walsh

B.Com, FCA, GAICD, FGIA

Non-Executive Director of:

IOOF Investment Management Limited since 31 January 2017
Australian Executor Trustees Limited since 31 January 2017

Mr Walsh has been an international partner and advisor for 35 years in assurance and advisory services, with previous roles held at both Ernst & Young and Deloitte in Australia, PNG, South Korea and the US. During his career, he has acquired experience in Superannuation, Asset Management and Trustee Services, including assurance, operational due diligence, strategy, risk, compliance and governance.

Mr Walsh holds a Bachelor of Commerce from Melbourne University, is a Fellow of the Institute of Chartered Accountants and the Governance Institute as well as being a Graduate Member of the Institute of Company Directors. He is currently a Director of The Royal Australian College of General Practitioners and was formerly a Director of State Super Financial Services Australia Limited and Hastings Funds Management Limited. He is also a Director of Surf Life Saving Australia Ltd and Chair of the National Surf Life Saving Foundation.

Other current listed directorships

Nil

Former listed directorships in the last 3 years

Nil

Special responsibilities

Chair of IOOF Investment Management Limited
Non-Executive Director of IOOF Ltd
Chair of IOOF Ltd Audit Committee and Member of IIML and AET Audit Committees
Member of the IIML Risk and Compliance Committee
Chair of the Product Investment Committee

Director's fees*

2017 – Cash salary $11,483.35, Super $1,090.92
2018 – Cash salary $36,580.64, Super $3,475.16

_{* Directors sit on multiple Boards and Committees within the IOOF Group. The 2018 remuneration figures represent an apportionment of the Director’s salary based on the amount of time spent at Board meetings of the RSE Licensees. It does not reflect the total remuneration package received by Directors for their directorships across the IOOF Group. For further information on the total remuneration package of Directors in FY2018 please refer to the Remuneration Report that forms part of the IOOF Holdings Ltd Annual Financial Report.}

Ms Elizabeth Flynn

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

Non-Executive Director of:

IOOF Investment Management Limited (IIML) since 15 September 2015 (Ended 31 January 2017, Reappointed 29 August 2017)
Australian Executor Trustees Limited (AET) since 15 September 2015 (Ended 17 March 2017, Reappointed 29 August 2017)
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 eight years as a partner, specialising in managed funds, banking, securitisation and superannuation.

Ms Flynn was a director of Bennelong Funds Management Limited from 2010 to 2015. Ms Flynn also has a part-time role as General Counsel & Company Secretary of Save the Children Australia.

Other current listed directorships

Non-executive Director IOOF Holdings Ltd Board since 2015

Significant non-listed directorships

AIA Australia Limited
Victorian Government’s Emergency Services Superannuation Board
Sovereign Assurance Company Limited

Special responsibilities

Non-executive Director of IOOF Ltd since 15 September 2015 (Ended 17 March 2017, Reappointed 29 August 2017)
Member of the Group Remuneration Committee
Chair of the Group, IIML and AET Risk and Compliance Committees
Member of the IOOF Ltd Risk and Compliance Committee

Director's fees*

2017 – Cash salary $11,140.08, Super $1,058.31
2018 – Cash salary $26,288.66 Super $2,497.42

_{* Directors sit on multiple Boards and Committees within the IOOF Group. The 2017 and 2018 remuneration figures represent an apportionment of the Director’s salary based on the amount of time spent at Board meetings of the RSE Licensees. It does not reflect the total remuneration package received by Directors for their directorships across the IOOF Group. For further information on the total remuneration package of Directors in FY2018 please refer to the Remuneration Report that forms part of the IOOF Holdings Ltd Annual Financial Report.}
_{# On 19 June 2018 the Questor licence was cancelled by APRA following the wind-up of its RSE effective from 30 June 2016.}

Mr John Selak

DipAcc, ICAA, FCA.

Non-Executive Director of:

IOOF Investment Management Limited since 31 January 2017
Australian Executor Trustees Limited since 31 January 2017

Mr Selak has over 40 years’ experience in the financial and advisory services industry. From 2000 to 2016 he was a partner in the Corporate Finance Practice of Ernst & Young, providing valuation services to a broad range of local and international clients and also serving on their Global Corporate Finance Executive.

In addition to his business and commercial activities, Mr Selak has been active in the community and not-for-profit sectors including being awarded a Paul Harris Fellowship by Rotary International for his services to the community. Mr Selak is also a founding director of The Family Peace Foundation.

The appointment of Mr Selak will ensure that the board maintains its corporate finance, M&A and governance skill set and complements existing Board expertise and business acumen.

Other current listed directorships

Non-executive Director of IOOF Holdings Ltd since 2016

Former listed directorships in the last 3 years

Nil

Significant non-listed directorships

Chairman of Corsair Capital
Director of National Tiles
Turosi Food Services

Special responsibilities

Non-executive Director of IOOF Ltd since 31 January 2017
Director of IOOF Foundation
Director of IOOF Holdings Trustee Pty Ltd
Chairman of the IIML and AET Audit Committees
Member of the Group Audit Committee
Member of the Group Risk and Compliance Committee
Member of the IOOF Ltd Audit Committee

Director's fees*

2017 – Cash salary $10,730.74, Super $1,019.42
2018 – Cash salary $29,191.92, Super $2,773.23

Ms Karen Gibson

Non-Executive Director of:

IOOF Investment Management Limited since 26 November 2018
Australian Executor Trustees Limited since 26 November 2018

Karen is a Brisbane based non-executive director and consultant with significant and broad experience in the financial services industry. Building organisational capability and promoting a customer focused culture, positioning the organisations for growth and developing ambitious member centered strategic objectives were key achievements as CEO and as non-executive director. Karen has worked with Trustees, asset consultants, investment managers, government and unions to improve the financial security for members and investors, and as a consultant, uses this experience to support organisations in developing effective governance and investment frameworks, planning and change management.

Karen is on the board of Nambawan Superannuation Limited and International House (UQ) with previous experience on the boards of OneVue Holdings and MAP Funds Management.

Karen has worked with microfinance organisations in Cambodia and Red Cross Refugee Support in Australia and is qualified with GAICD, MBA, BSc and Diplomas in financial services.

Other current listed directorships

Nil

Former listed directorships in the last 3 years

Director of OneView Holdings Ltd (March 2014 – October 2016). Including:
- Non-Executive Director of OneView Wealth Services (August 2017 – April 2018)
- Deputy Chair of Diversa Trustees Limited (May 2017 – Dec 2017
- Director and Chair
  MAP Funds Management Pty Ltd (Feb 2013 – Feb 2018)
  MAP Invest Pty Ltd (Feb 2013 – Dec 2017)
  MAP Financial Planning Ltd (Feb 2013 – Feb 2014)

Significant non-listed directorships

Nil

Special responsibilities

Non-Executive Director of IOOF Ltd
Member of the IOOF Ltd Audit Committee
Chair of IOOF Ltd Risk and Compliance Committee and Member of the IIML and AET Risk and Compliance Committees

Director's fees

(N/A – appointed after 30 June 2018)

Mr Andrew Bloore

Non-Executive Director of:

IOOF Investment Management Limited since 26 November 2018
Australian Executor Trustees Limited since 26 November 2018

Andrew Bloore is an experienced Non-Executive Director, entrepreneur and farmer. He has designed, built and sold a number of businesses, focussed on the development of key disruptive technologies and distribution services in traditional markets, to create business efficiencies. Businesses Andrew has been actively involved in, both as an Executive and / or as a Director and in the capacity of investment funding, development and leadership, include:

Superannuation Administration (Smartsuper and SuperIQ).
Superannuation software design (Class Super).
Manufacturing (marine products and surf equipment and manufacturing in China).
Engineering (ignition systems for engines).
Accounting (traditional tax accounting, management consulting and business advice firm).
Rural Property and food production (cattle cropping and currently developing intensive agriculture indoor vertical farming).

Throughout his Executive career, Andrew has worked on a range of Senate and Treasury Committees, and with the Australian Taxation Office (ATO) Regulations Committee on regulation for the superannuation industry. In 2016, Andrew sold his superannuation administration business to AMP, stepped down from the Senate and Treasury Committees and is now focussed on contributing to organisations as a Non-Executive Director.

Other current listed directorships

FBR Ltd

Former listed directorships in the last 3 years

Nil

Significant non-listed directorships

Chairman of Guildlink Ltd Group
Non-Executive Director of Guild Group
Non-Executive Director of Guild Trustee Services Ltd
Non- Executive Director of Guild Insurance Ltd
Chairman of Gold Cross Pty Ltd
Non-Executive Director of:
- NoahFace
- Sydney Institute of Marine Science Foundation
- Landcare NSW – commercialisation board
- Vertical Farming Pty Ltd
Mentor – Stone & Chalk

Special responsibilities

Non-executive Director and Chair of IOOF Ltd since 26 November 2018
Chair of Australian Executor Trustees Limited
Member of the IIML and AET Audit Committees
Member of the AET and IOOF Ltd Risk and Compliance Committees

Director's fees

(N/A – appointed after 30 June 2018)

_______________________________________________________________________________________________________________________________

Superannuation Trustee Executive Officers

Mr Renato Mota – Acting CEO

Renato has over 18 years’ experience in financial services with a particular focus on senior management and corporate strategy
He is responsible for the overall delivery of value to the group’s various client segments across advice and services
He joined IOOF in 2003 and has previously worked for Rothschild, NAB and ANZ, and is a CFA charterholder

Remuneration

Financial Year 2016/2017

David Coulter – Cash salary $420,384, Super $19,616
Stephen Merlicek* – Cash salary $406,948, Super $17,352
Renato Mota – Cash salary $480,384 Super $19,616
Gary Riordan – Cash salary $447,048, Super $19,616

Financial Year 2017/2018

David Coulter – Cash salary $439,941, Super $20,049
Renato Mota – Cash salary $499,951, Super $20,049
Gary Riordan – Cash salary $455,911, Super $20,049
Daniel Farmer – Cash salary $311,451, Super $20,049

_{* Stephen Merlicek ceased employment with the Group on 3 July 2017 and received a termination payment of $160,077. He was replaced by Dan Farmer.
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 FY2018, please refer to the Remuneration Report that forms part of the IOOF Holdings Ltd Annual Financial Report.}

^{# On 19 June 2018 the Questor licence was cancelled by APRA following the wind-up of its RSE effective from 30 June 2016.}

Past 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:

IOOF Investment Management Limited since 23 June 2009
Australian Executor Trustees Limited since 1 May 2009
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.

Former listed directorships in the last 3 years

Beston Global Food Company Limited

Special responsibilities

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

Chairman's fees*

2017 – Cash salary $11,502.70, Super $4,929.73

_{* Directors sit on multiple Boards and Committees within the IOOF Group. The 2017 remuneration figures represent an apportionment of the Director’s salary based on the amount of time spent at Board meetings of the RSEs. It does not reflect the total remuneration package received by Directors for their directorships across the IOOF Group. For further information on the total remuneration package of Directors please refer to the Remuneration Report that forms part of the IOOF Holdings Ltd Annual Financial Report.
# On 19 June 2018 the Questor licence was cancelled by APRA following the wind-up of its RSE effective from 30 June 2016.}

Ms Dawn Oldham

B.Ec/B.Com, GDip FinPlan, GDip AppFinInv, GAICD, F FINSIA

Resigned as Non-executive Director on 21 August 2018 of:

IOOF Investment Management Limited since 31 January 2017
Australian Executor Trustees Limited since 31 January 2017

Ms Oldham was a top rated** equity analyst in the Consumer sector at Merrill Lynch and Citigroup for more than 10 years. Amongst her other achievements, Ms Oldham has consulted extensively to top FMCG companies on corporate strategy and owned and operated a successful wealth management business.

Ms Oldham holds a Bachelor of Economics & Commerce (First Class Honours) from Monash University, a Graduate Diploma in Applied Finance & Investment and a Graduate Diploma in Financial Planning and was appointed to the AICD Chair Mentoring Program in 2015. She is also a Fellow of FINSIA and a Graduate of the Australian Institute of Company Directors.

Other current listed directorships

Nil

Former listed directorships in the last 3 years

Nil

Special responsibilities

Member of Risk and Compliance Committee (Ended 21 August 2018)

Director's fees*

2017 – Cash salary $9,782.11, Super $929.30
2018 – Cash salary $37,800.00, Super $3,591.00

Mr George Venardos

B.Com, FCA, FGIA, FAICD, FTIA

Resigned as Non-Executive Director on 28 November 2018 of:

IOOF Investment Management Limited since 23 June 2009
Australian Executor Trustees Limited since 24 January 2008
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, Bluglass Ltd from 2008 to 2016 and Ardent Leisure Group from 2009 to 2017.

Other current listed directorships

Director of IOOF Holdings Ltd since 2009 *On Leave

Significant non-listed directorships

Chairman of Guild Group
Director of Cuscal Ltd
Director of Lawcover Pty Ltd

Special responsibilities

Chairman of IOOF Holdings Ltd since 2016 (Resigned 8 December 2018)
Member of the Remuneration Committee *On Leave
Member of the Group Audit Committee *On Leave
Chair of the Nominations Committee *On Leave
Chair of the Governance Committee *On Leave

Director's fees*

2017 – Cash salary $25,209.68, Super $2,394.92
2018 – Cash salary $47,064.22, Super $4,471.10

Mr Christopher Kelaher – Group Managing Director *On Leave

B.Ec, LL.B, F Fin.

Resigned as Director of IIML, AET and IOOF Ltd on 1 September 2018.

Mr Kelaher was appointed as Managing Director of IOOF Holdings Ltd in 2009, after IOOF’s merger with Australian Wealth Management Limited (AWM), a company he had led since 2006. He resigned as Director of the IOOF Ltd, IOOF Investment Management Limited and Australian Executor Trustees Limited Boards effective 1 September 2018.

Prior to AWM, Mr Kelaher was the CEO of Select Managed Funds Limited for nine years, a private company which was brought to market in 2005 and in turn ultimately merged with AWM in 2006. In the following periods, he has been instrumental in executing multiple mergers and acquisitions that have added materially to the IOOF Group and its antecedent businesses. Mr Kelaher has extensive capital markets experience from his time during the late 1980s with Citicorp where he oversaw the establishment of Citicorp Investment Management and Global Asset Management business in Australia and New Zealand.

He 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

Managing Director of IOOF Holdings Ltd since 2009 *On Leave

Special responsibilities

Member of the Nominations Committee *On Leave
Chair of the Investment Management Committee *On Leave

Director's fees*

2017 – Cash salary $8,377.50, Super $795.86
2018 – Cash salary 9,771.50, Super $928.29

Ms Jane Harvey

B.Com, MBA, FCA, FAICD

Non-executive Director of:

IOOF Investment Management Limited since 14 December 2005 (Ended 21 March 2017)
Australian Executor Trustees Limited since 1 May 2009 (Ended 31 January 2017)
Questor Financial Services Limited since 1 May 2009^#

Ms Harvey has more than 30 years’ experience in the financial and advisory services industry. Prior positions include as a Partner at PricewaterhouseCoopers, a Director of David Jones Limited from 2012 to 2014, a Director of UGL Limited from 2015 to 2017, and as a Director of DUET Finance Limited, a stapled entity within the ASX Listed DUET Group from 2013 to 2017. Jane was also appointed as a Director of Dulux Group Limited on 1 February 2018.

Jane is a Board Member of Orygen - The National Centre of Excellence in Youth Mental Health, and Trustee of the Marian & EH Flack Trust.

Other current listed directorships

Member of IOOF Holdings Ltd Board since 2005
DuluxGroup Limited (effective 1 February 2018)

Significant non-listed directorships

Bupa Health Services Pty Ltd
Colonial Foundation Ltd

Special responsibilities

Member of the Colonial Foundation Trust
Member of the Nominations Committee
Chair of the Group Audit Committee
Member of the Group Risk and Compliance Committee

Director's fees*

2017 – Cash salary $10,647.70, Super $1,011.53
2018 – Cash salary $0, Super $0

Mr Allan Griffiths

BBus, DipLl

Non-Executive Director of:

IOOF Investment Management Limited since 23 June 2009 (Ended 31 January 2017)
Australian Executor Trustees Limited since 24 January 2008 (Ended 31 January 2017)
Questor Financial Services Limited since 24 January 2008^#

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

Mr Griffiths has more than 30 years’ experience with a deep understanding of the financial services industry. Mr Griffiths has held a number of executive positions within the industry most notably as Chief Executive Officer Aviva Australia and later, Managing Director South East Asia, Aviva Asia Pte Ltd based in Singapore. Prior to joining Aviva, he held executive positions with Colonial Ltd and Commonwealth Bank of Australia.

Other current listed directorships

Acting Chair of IOOF Holdings Ltd Board since 8 December 2018 and Director since 2014.

Significant non-listed directorships

Chairman of Westpac/BT Insurance Boards
Chairman of Metrics Credit Partners
Director of CARE Australia

Special responsibilities

Member of the Risk and Compliance Committee
Member of the Group Audit Committee
Chair of the Remuneration Committee
Acting Chair of the Nominations Committee
Acting Chair of the Governance Committee

Director's fees*

2017 – Cash salary $10,316.14, super $980.03
2018 – Cash salary $0, Super $0