Big names walk in R&SA sales shakeup
Royaland SunAlliance(R&SA) general manager for sales and marketing Ken Brewer has left the group after a round of sudden death departures took place at the group late last year.
R&SA chief executive Dennis Fox says about 15 people have left the group from the sales and operations sections including Caroline Russell who was responsible for the group’s wrap and master trust products and national sales manager, Wayne Baker.
The departures have resulted in the promotion of the head of distribution Peter Jowett, who will now move into the role of general manager of sales and distribution.
Sean Carroll, who heads up life and risk products at the group, and Andrew Alcock who is responsible for wealth management have also taken on expanded roles.
Fox says that after enduring a difficult year in 2002, the group decided to make each business unit responsible for its own sales and marketing, prompting the staffing changes.
“These moves should make each group complete in what it does and should also tackle some costs. We would like each group to be a profit centre in its own right without too much reliance on other parts of the business,” Fox says.
However, Fox would not comment on whether these moves were designed to make the business more attractive to the market ahead of the group’s upcoming float, due to conditions laid down by the regulatory authorities.
AUTHOR
Jason Spits
Recommended for you
As the industry navigates the fallout from recent product failures, two major AFSLs have detailed their APL selection process and relationship with research houses, warning a selection error could “destroy” a licensee.
The impending retirement of financial advisers in their 50s could see the profession face significant succession challenges over the coming decade and younger advisers may not be the answer.
With a third of AFSLs being solo advisers, how can they navigate key person risk and ensure they are still attractive propositions for buyers when it comes to their succession planning?
A quarter of advisers who commenced on the FAR within the last two years have already switched licensees or practices, adding validity to practice owners’ professional year (PY) concerns.
