Spring to exit CommBank Wealth
The Commonwealth Bank’s group executive, Wealth Management, Annabel Spring is leaving the business.
Spring’s departure has been announced to the Australian Securities Exchange (ASX) with the bank’s chief executive, Ian Narev saying that she had decided to leave the group in December.
“Annabel will continue to lead the wealth management businesses, the divestitutre and the strategic review until the end of this year,” he said.
“Michael Venter, currently the Chief Financial Officer of International Financial Services and formerly Group Deputy Chief Financial Officer and Chief Officer of Wealth Management has been appointed Chief Operating Officer of Wealth Management with immediate effect,” Narev said.
He said Venter would represent Wealth management at the Group Executive Committee following Spring’s departure.
Recommended for you
An FAAA recommendation to make PY advisers subject to non-compete clauses would place candidates in a “hostage situation” with their employer and potentially deter new entrants, say commentators.
While the profession struggles to keep up with strong consumer demand, a third of people who have passed the ASIC adviser exam aren’t actively practising, so where is this missing third?
Half a year after Count Financial told its advisers to exit several Metrics Credit Partners funds, research house Lonsec has now downgraded two of these products over governance concerns.
As the advice industry evolves with technology, two business consultants have said successful advice firms will be those which focus on delivering an “experience” for their clients, beyond just a transactional service.
