Colonial shuffles staff

The need to fill vacancies in its UK operations has lead to a staff shuffle at Colo-nial First State with distribution and communication general manager Rob Adams becoming the acting chief executive officer of the group’s UK investment man-agement business.

The need to fill vacancies in its UK operations has lead to a staff shuffle at Colo-nial First State with distribution and communication general manager Rob Adams becoming the acting chief executive officer of the group’s UK investment man-agement business.

Adams will keep the top spot warm for a period of six months until a full-time chief executive officer is found.

The move has been prompted by the UK arm of Colonial recently purchasing Stewart Ivory to create a combined operation which manages over $20 billion.

During his six month placement, Adams role will be to implement the integration of the two businesses and work with the existing executive teams.

Colonial’s head of marketing and communications, Joanna Wagstaff will assume Adams’s responsibilities during his absence.

Following the footsteps of Adams is the group’s NSW and ACT state manager Matthew Gaden.

Gaden will take on the role of global equities business development manager, out of the London office. He will oversee increasing the exposure of the global invest-ment team among Australian clients and work with the UK business development team and investment team on their investment process.

Kylie Macfarlane is set to take Gaden’s place while Frank Casarotti will step into the newly created role of national retail business development manager. Casarotti has been with Colonial for eight years and was previously Queensland state man-ager.