IOOF Head of Research resigns

IOOF has confirmed to Industry Moves that Matthew Drennan has resigned as head of research and portfolio construction and will depart the firm in March 2018.

In this role, he is responsible for overseeing IOOF's approved product lists across all their dealer groups and as well as managing the MDA model offering.

Drennan was previously the chief investment officer at Shadforth Financial Group (SFG) and joined IOOF in March 2015, following IOOF's takeover of SFG in August 2014.

He has worked in the finance industry for over 25 years, holding senior positions at ANZ Bank, NSW Treasury and Deutsche Asset Management. Before joining IOOF, he was executive general manager of Zurich Investments.

Commenting on his departure from IOOF, group general manager - wealth management, Renato Mota, said: "Matt has made a significant contribution to the IOOF group over the past few years and will remain with the group until March 2018 to assist with a seamless transition to new leadership. This will ensure that we continue to deliver the highest quality research and portfolio construction for successful outcomes for advisers and investors."