FSC's Sally Loane to step down as CEO

Financial Services Council chief executive Sally Loane will depart the industry lobby group after seven years at the helm.

FSC chair, David Bryant, who is chief executive of Mercer Australia, said Loane had provided strong leadership for the FSC through a period of unprecedented change, driving its contribution to the development of positive policy and industry reform.

Bryant said: "Sally strengthened the FSC's contributions in a range of important policy areas - for our industry and the consumers we serve; supported our members as they sought to undertake an extensive program of regulatory change; and expanded the FSC's membership and engagement across what is a broad industry."

Loane said some of the more significant challenges have included initiating life insurance's Trowbridge Review - to make commercial insurance more affordable - developing the life codes, and advocating for a sensible Compensation Scheme of Last Resort.

"I have enjoyed working collaboratively with industry organisations, regulators, politicians, government bodies, and important stakeholders like consumer bodies, mental health leaders, and the medical community.

"If one learning stands out, it is how financial independence is a life-changing factor for women, and the role has given me the opportunity to communicate this message."

The FSC board is currently searching for a new chief executive.