The Investment and Financial Services Association (IFSA) board has received a slight shake-up following its AGM last week, with ING Australia CEO Harry Stout and Mercer Australia CEO Peter Promnitz joining as directors.

Both have filled casual board vacancies over the past two years.

Re-elected to the board were Perpetual MD David Deverall as Chairman, Macquarie Bank Group Head Peter Maher as Deputy Chairman, MLC Australia CEO Steve Tucker, and Franklin Templeton Investments Australia MD Maria Wilton.

Former IFSA CEO Richard Gilbert has been awarded honorary life membership for his “significant contributions and service to the financial services industry”.

The other board members are Colonial First State Investments CEO Brian Bissaker as Deputy Chairman, AllianceBernstein Australia CEO Michael Bargholz, Schroder Investment Management Australia CEO Greg Cooper, Axa Australia CEO Warren Lee, BT Financial Group Advice and Private Banking GM Geoff Lloyd, AMP Financial Services MD Craig Meller, and Australian Ethical Investment MD Anne O’Donnell.