Australian Ethical CFO/COO to depart amid restructure

Australian Ethical Investments has announced the departure of chief financial officer/chief operations officer, Mark Shanahan, effective February 2018.

His departure follows a reorganisation of the firm's management team, separating the functions of operations and finance.

Head of product finance, Mark Simons, will now step into the role of CFO and head of strategy and execution, Rob Plow, will step into the role of COO.

Shanahan was appointed as the firm's CFO/COO in January 2017. Previously, he worked as CFO of banking and financial services at Macquarie Group.

Commenting on Shanahan's departure, Australian Ethical's managing director, Phil Vernon, said: "I would like to thank Mark for the critical role he played during a challenging period of growth and change in our organisation."

He added: "Due to the substantial ongoing growth of our business we have split this combined function into two distinct teams. This reorganisation will allow these teams to provide more focused support for our ambitious growth strategy."