The Financial Services Council (FSC) has elected Schroders Australia chief executive Greg Cooper as chairman, replacing Peter Maher.
Maher will officially hand over to Cooper on 1 August at the FSC's Annual Conference, having held the chairmanship since 2010.
Cooper said that under Maher the FSC had led key industry changes including the increase to compulsory superannuation contributions from nine to 12 per cent, the push for industry self-regulation and the ending of commissions through the FSC's standards.
"Peter's guidance and support of the Financial Services Council has been critical during this time of the most substantial regulatory change in the history of the financial services industry in Australia," he said.
Maher said Cooper has made a significant contribution to the FSC since being elected a director of the board in 2008.
Cooper has been deputy chairman since 2011 as well as deputy chairman of the FSC Administration and Risk Board Committee, deputy chairman of the FSC's Nominations Board Committee and co-chairman of the FSC's Investment Board Committee.
