Colonial First State(CFS) has signedIOOFretail funds management general manager Richard Nunn to the general manager distribution role recently vacated by Michael Cant.
Cant has since taken up the position of chief financial officer for the investment and insurance services division of the Commonwealth Bank, the owners of CFS.
Nunn will be responsible for the distribution of all CFS products in the retail and corporate markets with CFS chief executive John Pearce stating Nunn’s background in the retail space as a key driver behind the appointment.
However Pearce was also impressed by Nunn’s skills in the area of distribution, marketing and product development, and that his recruitment to CFS was indicative of the group being “an employer of choice for the best people in this industry”.
Nunn is set to commence his new role in early August and add to his 15 years in funds management. This includes three years with IOOF and 12 years withAXA Australia, where he held the posts of national retail sales manager and head of AXA adviser services.
At IOOF Nunn headed up distribution retail funds management and portfolio administration services products and managed IOOF’s wholly owned dealer group,Winchcombe Carson.
Nunn’s appointment rounds off a number of moves at CFS. In April Pearce appointed David Dixon as general manager of investments, replacing Pearce himself who took on the chief executive role in February this year while Henry Capra became chief financial officer, replacing Tim Foster, after his move to the now brandedChallenger Financial Services Group.
In March the head of retail distribution role was phased out after Paul van Rooyen left the group after only three months in the role.
