FSC Chair to step down

Greg Cooper is stepping down as chair of the Financial Services Council (FSC), after three years in the role, effective 21 July 2016.

Commenting on his departure, Cooper said: "I have enjoyed my tenure as Chairman of the FSC. It's a privileged position and I'm proud of what we have achieved."

His replacement is current FSC co-deputy chair, and CEO and managing director of Perpetual Limited, Geoff Lloyd.

In thanking Cooper for his contribution, Lloyd said: "Greg's leadership has been integral in helping the industry navigate substantial regulatory headwinds and opportunities. He has encouraged a collaborative approach to tackling issues and can be very proud of where the FSC is today."

He added: "Importantly, Greg has worked tirelessly to advance the position of the financial services industry and to create a more prosperous future for all Australians. I look forward to carrying forward this charge."