Powered by MOMENTUM MEDIA
moneymanagement logo
 
 

Sagitta to replace Rothschild name

westpac/chief-executive-officer/risk-management/financial-markets/

23 July 2002
| By Kate Kachor |

The wealth management group formed byWestpac’sacquisition ofRothshild Australia Asset Management(RAAM) will be known as Sagitta Wealth Management Limited.

Latin for the word ‘arrow’, RAAM products will be branded Sagitta-Rothschild until the first quarter of 2003.Westpac products meanwhile will continue to be branded as Westpac.

The new name launch follows Westpac Banking Corporation’s $323 million acquisition of the RAAM business on June 1 this year.

According to the new chief executive officer of Sagitta, Peter Martin, initially there was 400 names on the suggestion list for the new business, with some of these names created and other’s from famous people.

The Sagitta logo includes an archer with three stars forming a constellation, reflecting the businesses plans to be a leading Australasian wealth management organisation, that delivers quality long term investment solutions to its clients.

“To attain a competitive advantage in a cluttered wealth management market Sagitta must have the willingness to challenge industry orthodoxies. This is especially the case at present with the volatile financial markets,” Martin says.

The similarity to Rothschild’s own arrow logo reflects the independence of the business from Westpac’s identity, meanwhile creating a new vision for the future.

“As a self-contained, separately branded organisation, Sagitta is the ‘best of both worlds’. We have access to Westpac’s extensive customer base plus the external market. We have the financial muscle to fund future growth. We have a broadly based manufacturing capability, backed by a rigorous approach to risk management,” Martin says.

Westpac Banking Corporation, business and consumer banking group executive David Clarke, says the Sagitta brand is the visual demonstration of preserving and enhancing the highly successful attributes of both RAAM and Westpac.

“Going forward, the business objective of Sagitta is to position Westpac to leverage wealth management growth opportunities,” he says.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...

3 weeks 2 days ago

It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...

4 weeks 2 days ago

So we are now underwriting criminal scams?...

7 months ago

After last month’s surprise hold, the Reserve Bank of Australia has announced its latest interest rate decision....

3 weeks 4 days ago

WT Financial’s Keith Cullen is eager for its Hubco initiative to see advice firms under its licence trade at multiples which are catching up to those UK and US financial ...

4 weeks 1 day ago

While the profession continues to see consolidation at the top, Adviser Ratings has compared the business models of Insignia and Entireti and how they are shaping the pro...

1 week 3 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND