Skandia rewards Borysiewicz with board seat
Richard Borysiewicz has been rewarded for a successful seven months heading distribution for Skandia by being granted a place on the group’s board.
Borysiewicz is not giving up any responsibilities in making the move, and will continue to lead a team of 27 business development managers and key account and relationship executives.
The board governing Skandia’s $2.5 billion under management in Australia meets quarterly, when chairman Gunnar Moberg, also Skandia’s Asia-Pacific chief executive, flies down from Hong Kong.
Other executives on the board are Ross Laidlaw (Australian chief executive), Charles Magro (head of product and strategy) and Chris O’Hehir (chief operating officer). Non-executive directors are Sarah Brennan and David Lewis.
Borysiewicz joined Skandia in July 2004, after a tumultuous period where merger activity sent him from Rothschild Australia Asset Management, to BT Financial Group and then Principal Global Investors in quick succession.
During 2004, Skandia’s local assets under management doubled, and revenue grew 270 per cent on 2003.
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.
