Press joined the board in December 2024 but has now become chair following the retirement of existing executive chair John Nantes as of 12 November.
Nantes joined the board in 2017 and had been appointed as chair in 2019 with IAM detailing how Nantes helped steer the company through a process of consolidation to focus on core product offerings.
Press was previously an independent non-executive director and chair of the IAM audit and risk management committee.
Alongside her five years as a commissioner at the corporate regulator, Press has spent more than 30 years in the financial services sector, including chief executive roles at both Equip Super and The Myer Family Company, as well as managing director of UBS Global Asset Management (Australia).
As well as her appointment, IAM chief executive Jon Lechte has been appointed as managing director from the same date.
Meanwhile, non-executive director Craig Swanger resigned from the board with immediate effect in October, having joined in 2019.
In an ASX statement, Press said: “The board and IAM team wish to thank John for his service to the Board and recognise his significant contribution in building IAM from a fintech concept to a fixed income business with sizeable FUA and revenue growth, whilst navigating serious headwinds, including the effects of the COVID pandemic, and progressing diversity and governance initiatives.”
Outgoing executive chair, Nantes, said: “I can retire knowing that IAM is in great hands with a refreshed board of directors with substantial experience in the sector, supported by what I think is the most talented fixed income team in Australia.
“I wish to thank all of the IAM team who have worked tirelessly to make it the business it is today, as well as all our shareholders and our supporting brokers Blue Ocean Equities and Morgans Pty Ltd, all of whom have been instrumental in supporting IAM.”
Press also works at advice licensee Sequoia, having been appointed in August 2025 to chair an AFSL committee which seeks to improve Sequoia’s governance practices.
“This new committee reflects Sequoia’s ongoing commitment to the highest standards of regulatory alignment, governance maturity and risk management,” the firm said in a statement.
“It introduces an elevated and independent governance layer above the operational compliance structures of each AFSL and will in conjunction with the executive report to the Sequoia boards risk and compliance committee.”
