IOOF promotes operations chief

IOOF has promoted group GM of clients and processes, Frank Lombardo, to chief operating officer.

The move is part of the organisations shift to be "fit for purpose" both now and in the future, according to a statement from the company.

IOOF CEO, Renato Mota, says the promotions and changes will help the business "better align our teams and reflect the integration of the recent acquisition of ANZ's pension and investments business. This marks the commencement of an exciting new phase of IOOF's development.

"We are building solid foundations for IOOF's future success. Through a purpose-led culture we continue to challenge ourselves to deliver better outcomes for clients and members. The recent increase in our size and scale through the P&I acquisition has improved our ability to invest in and deliver market leading solutions, offering more value to our clients."

Lombardo's new role reflects a client-first transformation, says Mota. "The operations function will now encompass new areas, including Transformation & Integration, a new Commercial Management capability and supporting ClientFirst thinking adoption across the IOOF enterprise."

Lombardo joined IOOF in mid-2015 as GM of transformation. He's held GM and leadership roles with NAB, MLC, and Aviva.