Colonial to lose global asset boss
Financial services group ColonialFirstState is in the market for a new chief executive of its global asset management division as current chief Warwick Negus will complete his term at the end of a three-year contract on June 1, 2008.
Commonwealth Bank group executive of wealth management Grahame Petersen said Negus has increased the diversification of the business across asset classes and geographies since joining the group in 2005.
“Warwick’s energy and experience have been important in taking the business to a new level.
“We are now in the fortunate position to have a highly skilled leadership team that will be able to continue to refine and embed the strategy for the funds management business,” Petersen said.
An internal and external executive search is underway to fill Negus’ role.
Recommended for you
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With wealth management M&A appetite only growing stronger, Business Health has outlined the major considerations for buyers and sellers to prevent unintended misalignment between the parties.
Industry body SIAA has said the falling number of financial advisers in Australia is a key issue impacting the attractiveness and investor participation of both public and private markets.
