Australian Ethical names CFO/COO

Ethical investment and superannuation provider Australian Ethical Investment (Australian Ethical) has announced the appointment of Mark Shanahan to the newly-created role as both chief financial officer (CFO) and chief operations officer (COO), effective 3 January 2017.

The announcement comes on the back of news that the business has exceeded $2 billion in FUM and has strengthened both its marketing/sales and finance/operations teams.

In his new role, Shanahan is responsible for overseeing a range of corporate services including finance, fund accounting, member operations and information technology. He has 25 years' experience in financial services, having most recently worked as CFO - banking and financial services at Macquarie Group.

Commenting on Australian Ethical's recent success, managing director, Phil Vernon, said: "This is a significant milestone for Australian Ethical and for ethical investing in Australia...it clearly demonstrates the rising tide of ethical investment and that Australians are increasingly seeing their investment decisions as powerful levers for effecting change."

He added: "The past year has been one of considerable change for the business as we position ourselves for continued future growth. [The] new additions to the team give us a strong platform to drive growth whilst tightly managing our risk."