Dan Farmer will assume the role of chief investment officer of IOOF following the retirement of Steve Merlicek on 30 June 2017.
The Australian Financial Review flagged Mr Merlicek's retirement on Wednesday.
Confirming the departure yesterday afternoon, IOOF said Mr Merlicek will remain as a member of the investment management committee following his retirement.
He will be succeeded by his colleague of the past seven years, Australian equities portfolio manager Dan Farmer.
IOOF managing director Chris Kelaher said, "I am delighted that it is Steve’s wish to maintain a close association with our business and continue contributing to its ongoing success."
"I am very pleased that we have the talent and bench-strength to appoint an internal successor. The company has supported Steve in building a high calibre investment management team," Mr Kelaher said.
"I am confident that Dan and the investment team will continue the strong track record of investment outperformance following the planned transition."
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