Spring to exit CommBank Wealth
The Commonwealth Bank’s group executive, Wealth Management, Annabel Spring is leaving the business.
Spring’s departure has been announced to the Australian Securities Exchange (ASX) with the bank’s chief executive, Ian Narev saying that she had decided to leave the group in December.
“Annabel will continue to lead the wealth management businesses, the divestitutre and the strategic review until the end of this year,” he said.
“Michael Venter, currently the Chief Financial Officer of International Financial Services and formerly Group Deputy Chief Financial Officer and Chief Officer of Wealth Management has been appointed Chief Operating Officer of Wealth Management with immediate effect,” Narev said.
He said Venter would represent Wealth management at the Group Executive Committee following Spring’s departure.
Recommended for you
Proposed legislative changes to safe harbour duty could result in advisers having reduced professional indemnity costs, a joint submission by seven major licensees said.
With 66 per cent of newly established advice licensees being sole advisers, what are the risks and legal ramifications to consider when taking the plunge into self-licensing?
Despite its popularity, only 1 per cent of financial advisers say they have often discussed cryptocurrency with clients, CoreData said, fuelled by concerns of heavy legal expenses if the product goes wrong.
AFCA and the CSLR have signed a memorandum of understanding as to how they will support an efficient financial services sector via the scheme.
