Westpac’s van Rooyen lands role with Colonial
The previous head of business development at Westpac, Paul van Rooyen, has taken on the newly created role of head of retail distribution withColonial First State(CFS) less than a month after leaving his previous role.
Van Rooyen will be responsible for the distribution of CFS’s retail products, with the exception of corporate super, through the Commonwealth Bank’s advisory network and third party financial planners outside the group.
Colonial says the creation of the new position and the appointment of van Rooyen was the result of growth in the CFS product range and distribution channels.
The role would not be concerned with sales management and adviser relationships with responsibility for that area of the business remaining with Frank Casarotti and masterfund business development still under Adam Coughlan.
Rather van Rooyen’s role would concentrate on business management and he would be involved in the future direction of the CFS retail distribution.
Casarotti and Coughlan will report through to van Rooyen who in turn will report through to CFS distribution general manager Michael Cant.
Prior to his departure from Westpac van Rooyen was involved with business development on the consumer customers side of the group and prior to that was head of retail business development withWestpac Financial Services.
His departure from Westpac was one of a number of senior executives in the group who have left since Westpac began to absorb the purchases ofSagittaRothschild andBT Funds Management.
AUTHOR
Jason Spits
Recommended for you
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
