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IOOF moves forward with rebrand

IOOF will proceed to rebrand as Insignia Financial after shareholders unanimously voted in favour for the change.

Votes cast in yesterday's annual general meeting found shareholders embracing the new name and logo, garnering about 98% support.

Flagging the rebrand in October, chief executive Renato Mota told Financial Standard that it will be business as usual for subsidiaries and that the ticker code IFL will not change.

At the AGM, Mota said the new corporate brand "captures the essence of our history in a more contemporary way".

"As part of our brand strategy work, we're performing a review of all brands in our suite with a focus on understanding how we can best meet the needs of our clients and support future growth," he said.

"Importantly, it will be our brand for employees uniting our people from across three heritage businesses with a common purpose and ambition."

IOOF completed its acquisition of MLC Wealth in May this year, effectively doubling its funds under management to about $494 billion. The MLC brands it acquired will retain their name and branding.

The brands Bridges, Shadforth, TenFifty, Lonsdale, RI Advice, Millennium3, Consultum, Godfrey Pembroke, Australian Executor Trustees, Intermede Investment Partners, Fairview Equity Partners, Presima Inc, Orchard Street Investment Management and Antares will continue as is.

Subject to ASIC's approval, the name change will be effective in the coming weeks.

IOOF chair Allan Griffiths, who also addressed the AGM, urged shareholders to vote in favour of the resolution.

The results of the AGM also show Griffith retaining his current role, as will Andrew Bloore, who has been re-elected as independent non-executive director. Shareholders also voted in favour of IOOF's remuneration report.

Read more: IOOFInsignia FinancialAllan GriffithsAndrew BlooreAntaresAustralian Executor TrusteesIntermede Investment PartnersLonsdaleMLC WealthOrchard Street Investment ManagementPresima IncRenato MotaRI AdviceShadforthTenFifty