Westpac bolsters advice arm
Westpac has beefed up its financial advice team following the promotion of BT Financial Group general manager distribution and key executive within the group’s advice division, Rob Coombe, last week.
The bank has recruited former Commonwealth Bank of Australia (CBA) general manager dealership services Chris Davies as chief operating officer for its financial planning and advice business, along with two other team members to the advice area.
Coombe will takeover as head of BT in February next year when he steps into the position of incumbent in the role, David Clarke, who leaves after heading the group for the past two years.
Davies has been given a mandate to oversee the operation of the financial planning business and includes paraplanning, learning and development, customer management, technical services and technology.
Davies’ work history prior to his positing at CBA, was as general manager investment products with Colonial where he was involved in the acquisitions of Prudential and L&G.
Westpac has also named Neville Azzorpardi, as head of practice development to oversee the national business and practice development team with responsibility for implementing the business’s sales and service strategy.
He joins the group after a spell as head of private client services for Commerce International Merchant Bankers (CIMB).
Prior to this Azzorpardi was chief executive of Commerce Trust Berhad, a Kuala-Lumpur based joint venture between Bankers Trust Australia and CIMB.
Meanwhile, the group has also formalised the May appointment of existing staffer Patrick Clarke as head of product research.
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