Integrity Life chief executive, Chris Powell, has announced his retirement after 40 years working in financial services.
Powell would transition to a capital markets role to lead the current capital raising and relinquish day to day leadership duties.
Current, chief financial officer, Lesley Mamelok will step into the role while the board undertakes an executive search for Powell’s successor.
Chair Eric Dodd said: “On behalf of the Board, I would like to wish Chris well in his forthcoming retirement. Chris retires knowing that he has made an exceptional contribution to Integrity, having successfully driven the launch of one of Australia’s newest insurance companies.
“Integrity Life now has operational momentum, an established market presence, modern, adaptable technology and truly customer and adviser focused underwriting and claims processes.”
Powell was the founding chief executive for five years and is a significant shareholder.
“Having spent the last five years fulfilling my entrepreneurial ambition to launch a disruptive, innovative new life insurer, I’m looking forward to a change of pace, but will continue to support Integrity in any way I can,” Powell said.
Stockspot is aiming to launch the Australia-first vehicle in the coming months.
Natalie Kelly has been appointed permanently to the role following an extensive selection process.
Wayne Byres is the newest addition to the market operator’s leadership team as part of its ongoing board renewal initiative.
The $7 billion fund has hired a new chief executive to succeed Lachlan Baird, who departed the fund in December last year after 18 years.
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