By Ryan Hewlett

March 24 - (The Insurer) - Australian broker Steadfast has restructured its senior leadership following chief operating officer Nigel Fitzgerald's decision to step away from the business later this year to “pursue a personal business venture”.

ASX-listed Steadfast said in a stock exchange filing on Monday that Fitzgerald will formally step down from his role on July 1 and will remain in a senior advisory role until September 30.

Fitzgerald, long as seen as the likely successor to Steadfast Group managing director and CEO Robert Kelly, will also maintain his board positions for several of the broker’s subsidiaries.

In the wake of Fitzgerald’s departure, Kelly committed to not retire before December 31, 2026.

“It is my intention to continue until a successor has been appointed. Steadfast has a number of internal candidates that will be considered as my successor, and in due course the Steadfast board will commence the process to review internal and external candidates,” said Kelly.

Noelene Palmer will succeed Fitzgerald as COO with effect from July 1. Before joining Steadfast, Palmer was COO for the financial crime and fraud prevention team at Westpac and previously held leadership roles at IAG, TAL, Swiss Re and KPMG.

In addition, Tim Mathieson has been promoted to CEO of Australasia broking at Steadfast Group, effective from May 1. Mathieson has been with Steadfast for almost 10 years, including the last five years as CEO of Steadfast subsidiary QIB Group.