Fenning exits private banking business

Head of St George Private Bank, Tony Fenning, has resigned his post with the bank after taking up a position as chief executive officer with Tynan Mackenzie.

Head of St George Private Bank, Tony Fenning, has resigned his post with the bank after taking up a position as chief executive officer with Tynan Mackenzie.

Fenning stresses the move has nothing to do with St George Private Bank but rather was a response to an opportunity with one of the financial planning industry's better known firms.

"I almost regret leaving my work at St George as it was excellent and I was doing things I really enjoyed. It was a voluntary thing which is hard to do with a strong business in a solid growth pattern."

Fenning says his role at Tynan Mackenzie will be to add a cornerstone for building future growth.

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"My job will be about building a business with processes and structures so it can grow rapidly and the skills needed to do that are the management skills which Tynan Mackenzie believes I can bring," Fenning says.

In examining the structure he says there is a need to firm the range of products and services within a corporate environment.

"I really plan to corporatise the business so it is capable of being replicated across the board and then lifted to new levels," he says.

Fenning also sees himself working on positioning the company to target niche areas of the planning industry while expanding the geographical presence beyond the current location of Sydney and Brisbane.