Randal Williams has been appointed chief executive of IE Group, the efficient cash management and superannuation fund diagnostics subsidiary of La Trobe Financial, following the resignation of Patrick Liddy.
Williams is the vice president of International Operations of La Trobe Financial and a
former deputy chief executive of the health industry fund HESTA.
"We will continue to offer all the main services to super funds and select fund managers, including the core cash efficiency reviews, investment implementation assistance, asset origination and management products and various services for the financial planning arms of super funds," said Williams.
"We will also be offering a range of new products and services, which draw on La Trobe Financial's broader capabilities and depth of experience, over the coming months."
IE Group will no longer be offering to provide consulting for custody reviews or foreign exchange reviews going forward, confirmed Williams.
IE Group was founded by Liddy and several minority shareholders, including the current chairman, Greg Bright, in January 2010.
Bright will remain as IE Group's chairman and has recently joined the La Trobe Financial board.
"Patrick (Liddy) set up a business in difficult times with the sole aim of improving the efficiency of super funds in the implementation of their investment decisions, especially in the increasingly important aspect of their cash management," said Bright.
"I can understand that he now wishes to start his own advisory business and all of us at La Trobe Financial wish him every success."
La Trobe Financial, in association with IE Group, will present the inaugural Annual Achievement Awards for chief investment officers and chief operating officers of super funds and other fiduciary investors on May 31 in Melbourne.
The call for nominations and other details will be announced shortly.