A star is born at Promina
PROMINA has continued the renaming of the former Royal & SunAlliance (RSA) group announcing that the financial services division will be called Asteron from the beginning of July.
Asteron will include businesses and products incorporatingRoyal & SunAlliance Financial Services, LifeRisk Insurance, Connelly Temple and Optimum in Australia, and Royal & SunAlliance Life and Investments and Guardian Trust in New Zealand.
The group says the new name supports its “trans-Tasman organisational restructure”, which joined the Australian and New Zealand businesses into one enterprise earlier this year.
While the restructure of RSA operations saw the departure of a number of New Zealand-based executives, Dennis Fox’s role was extended to cover both the Australian and New Zealand markets. He will hold the title of chief executive of Asteron. He says the group is “excited about the challenges and opportunities that lie ahead”.
As part of the recently listed company Promina, Asteron will focus on life risk, asset administration, distribution and trustee services for around 1 million clients, with more than $5 billion assets under administration and management.
The group says the name Asteron, coined from ‘astron’, Greek for star, and the new circular logo symbolises the “growth, stability and security that support the brand”.
Recommended for you
Multiple industry organisations have shared their thoughts on AFCA’s proposed rules amendment, supporting the idea of firms being named publicly when they fail to comply with determinations.
Channel Capital has appointed a head of investment oversight who joins from 14 years at asset consulting firm JANA Investment Advisers.
Licensee Centrepoint Alliance has completed the acquisition of Brighter Super’s annual review service advice book, via Financial Advice Matters.
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
