The Financial Adviser Standards and Ethics Authority (FASEA) has appointed former Australian Prudential Regulation Authority general manager Stephen Glenfield as its chief executive.
The announcement by FASEA chairman Catherine Walter comes after Deen Sanders resigned from the position in April and assumed a role at Deloitte.
Walter said Glenfield’s extensive experience in financial services regulation and leadership style would strengthen the body’s ability to implement a well-considered rollout of higher educational and ethical standards for financial advisers.
“Stephen brings in-depth knowledge of financial system regulation, strong communication skills and a strategic mindset,” she said.
“The board expects that Stephen’s stewardship will augment and build upon our existing work in establishing a robust standards framework.”
Glenfield, who is based in Melbourne, has worked in financial services regulation for over three decades. Other than his role at APRA, he has also worked with the International Organisation of Pension Supervisors, Victorian Financial Institutions Commission and KPMG.
“I thank the FASEA board for the opportunity to lead this pivotal organisation with a clear remit to act upon and implement the federal government’s objectives under the legislation,” Glenfield said.
“I anticipate working collaboratively with a diverse range of stakeholders as we prepare for the critical rollout phase of the standards authority’s work program.”
Glenfield will begin his role on 1 August.
Mark Brimble will continue to act as FASEA’s interim managing director until then.
