Angus Benbow will join Shadforth next month, according to a statement by IOOF.
Prior to heading up News Corp, Mr Benbow held senior leadership roles at Perpetual, Booz and Company and was an officer in the Royal Australian Navy.
IOOF managing director Chris Kelaher said IOOF was delighted to have attracted a candidate of Mr Benbow's calibre.
"Angus' financial services, business strategy and general leadership experience, together with his high-net-worth expertise make him a superb fit for this role," he said.
"His brief is to embrace this consistently performing business and talented team and help lead Shadforth to a new level of accomplishment."
Mr Kelaher also paid tribute to the previous Shadforth chief executive Nick Bedding, who left in late August for a career break. Mr Bedding spent seven years at the helm of the company and almost a year helping it transition to become a member of the IOOF Group, the statement said.
