Asgard distribution loses another team member

Asgard Wealth Solutions has lost another key figure from its distribution team with the departure of associate director of institutional business services Wes Gillett.

Gillett joined Asgard in January 1999 as private label and distribution manager, having returned to the company after an 18-month absence, prior to which he worked for the group as New South Wales business development manager.

Asgard head of distribution Wayne Wilson said: “Last week, it was mutually decided to bring Wes’ contract with the company to a close. Wes was a valued member of the Asgard Wealth Solutions team. We thank him for his contribution and wish him well.”

Gillett is the latest of several members of the platform provider’s distribution team to leave the firm.

The company’s head of employer superannuation distribution Robert Bergin also left last month to join ING Australia as national sales manager of employer superannuation.

Bergin’s exit follows the December 2004 departure of Asgard’s director of distribution and sales Dan Powell to the role of executive director, sales and marketing, at ING Australia.

Gillett’s departure comes as Asgard works to complete a redesign of its business development team and restructure of its distribution network to operate along regional lines, although the changes were not expected to lead to job reductions.

Last November Wilson said the company might even look to recruit additional staff early in 2006.

He expected there to be between 25 and 30 business development managers in the new organisation and 40 per cent more client-facing staff.

The company late last year separated its generalist business development positions into four specialist roles — Asgard sales, Securitor sales, Asgard business development, and Securitor business development — with each business development manager servicing fewer clients.

The distribution network has also been restructured along regional lines, with key changes including New South Wales and Victoria being split into two regions — metro and country, and the Queensland/New South Wales border brought down to include New South Wales in the area serviced from the Brisbane office.