St George gets new investment head

TheSt George Bankhas filled its Investment Services chief executive position, vacated by the sudden departure of Richard Cawsey, with Yorkshire Bank chief operating officer Paul Fegan.

Fegan, who is also a director of theNational Australia Bank(NAB) owned Yorkshire Bank, will relocate to Australia in July and take over from acting Investment Services head Ian Knox, who will resume his Sealcorp chief executive officer role.

In March this year, Cawsey announced his immediate departure after discussions with the bank led to a mutual agreement that he no longer fitted into the bank’s structure.

Fegan joins St George after spending the past three years in the UK, during which time he has been in charge of the Personal Financial Services division of each of the NAB’s four banks in the UK and Ireland at various times.

Fegan has 20 years of service with the NAB, covering a range of businesses in Australia and internationally, including New York and Hong Kong. Before moving to the UK he was NAB Strategic Planning and Projects Asia Pacific general manager, based in Melbourne.

As head of the St George Investment Services Division, Fegan will be involved with the funds management, financial planning and private banking arenas of the business, includingAdvance Asset Managementand Sealcorp.

In the role Fegan will work on developing the growth of St George’s wealth management products to its banking customers, an area of strategic priority according to St George Bank managing director Gail Kelly.

“He will play a key role in ensuring St George fully leverages its customer base by providing a greater range of wealth management products to our banking customers,” she says.