IOOF Chief Investment Officer to step down

IOOF has announced that chief investment officer (CIO), Stephen Merlicek, will be stepping down from the role, effective 30 June 2017.

Merlicek was appointed as the firm's CIO in October 2009 and prior to that spent ten years as CIO at Telstra Super. Previously he has worked as a portfolio manager, an economist, and as a soldier in Australian Army.

Merlicek will continue his association with IOOF following his retirement, by remaining as a member of the firm's investment management committee.

He is to be succeeded by current portfolio manager - Australian equities, Dan Farmer, who has been with the firm for seven years.

Commenting on his departure, IOOF managing director, Christopher Kelaher, said: "I am delighted that it is Steve's wish to maintain a close association with our business and continue contributing to its ongoing success."

"Steve has made an outstanding contribution to IOOF and has been instrumental in delivering impressive investment outperformance over the long-term. Steve has also built a strong and capable investment team, testament to which is the elevation of Dan Farmer to the Chief Investment Officer role."