The Australian Financial Complaints Authority (AFCA) today announced the appointment of experienced financial services leader Gary Dransfield to its board. His appointment, for three years, is effective from 1 January 2022.
“Mr Dransfield will bring a wide range of skills from his distinguished executive career and his experience as a non-executive director. We particularly welcome his extensive experience in general insurance, which represents 24 per cent of AFCA’s business,” AFCA Chair John Pollaers said.
“We will benefit both from his deep business experience and from his career-long focus on the customer. We are pleased to have been able to attract someone of his calibre as we refresh our board three years on from AFCA’s inception.”
Mr Dransfield has more than 35 years’ experience in the retail financial services sector, holding senior roles with Suncorp Group, IAG, Lend Lease, AMP and St George Bank.
He was most recently Chief Executive, Insurance, for Suncorp, having also been Chief Executive of its Customer Platforms and Personal Insurance units, as well as its Vero Insurance business in New Zealand. At St George, he played an integral role in the successful conversion of St George from a building society to a bank.
Mr Dransfield is a former President and Chair of the Insurance Council of Australia, former President of the Insurance Council of New Zealand, and a former director of CareFlight NSW. He is currently a non-executive director with Hollard Insurance and Chair of the panel advising the NSW Government on the design of Decennial Liability Insurance for apartment buildings.
Mr Dransfield said: “I look forward to contributing to AFCA, a purpose-driven organisation that delivers such an essential service in helping consumers, small business and financial firms resolve disputes. Having led customer-facing businesses, I welcome this new opportunity to help enhance engagement between the financial services sector, consumers and community.”
Professor Pollaers thanked outgoing director Johanna Turner for her five years of service, first on the board of predecessor organisation the Financial Ombudsman Service (FOS), then AFCA. “Combining three separate financial dispute resolution schemes in one organisation was a significant step. Johanna played a really important role in helping AFCA make that transition and in significantly maturing AFCA’s governance, risk and reporting frameworks.”
AFCA combined the responsibilities of FOS, the Credit and Investments Ombudsman and the Superannuation Complaints Tribunal when it opened its doors in November 2018.
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- The Australian Financial Complaints Authority (AFCA) is a non-government ombudsman service providing free, fair and independent help with financial disputes.
- AFCA is a one-stop-shop for consumers and small businesses who have a dispute with their financial firm, over things such as banking, credit, insurance, advice, investments or superannuation.
- Where an agreement cannot be reached between parties, AFCA can issue decisions that are binding on financial firms.