Count Financial CEO Andrew Gale has resigned after both shareholders and the courts approved the Commonwealth Bank’s takeover of the company.

Mr Gale had been CEO for the past 20 months and will be replaced by Commonwealth GM Strategic Development David Lane.

Before joining the bank, Mr Lane was COO for Neuberger Berman’s hedge fund business.

Also resigning from the Count board were directors Aiden Halse and Andrew Geddes.

They have been replaced by Commonwealth Wealth Management staff Annabel Spring (Group Executive), Michael Venter (CFO), Peter Taylor (CRO), David Lane, and Marianne Perkovic (GM Distribution).

Ms Perkovic was CEO at Count before Mr Gale was appointed.

The shareholder vote in favour of the takeover was almost unanimous, with only 0.62% saying no.

The NSW Supreme Court approved the takeover last week and trading in Count shares on the Australian Securities Exchange has now ceased.