ANZ Wealth restructures senior executive ranks

ANZ Wealth, advice and distribution, is embarking on a major recruitment campaign as it restructures its senior executive ranks ahead of what it sees as key changes to the Australian financial planning market.

ANZ head of wealth, advice and distribution, Paul Barrett said the company was recruiting to fill a number of new roles in the team including head of practice-based financial planning, head of ANZ Financial Planning, head of sales, head of advice delivery and head of distribution and transformation.

At the same, he said Jamie Sach had been appointed head of business management and Steve Cullen had been appointed as head of advice development.

The restructure and recruitment campaign represent the first significant move by ANZ following its recruitment of Barrett from Colonial First State earlier this year.

Barrett told Money Management the new head of practice-based financial planning would be responsible for Millenium 3, RetireInvest and Financial Services Partners along with the dealer groups in which ANZ has an equity partnership such as Century and Fortnum.

He said the head of sales would be responsible for platforms, investment and insurance, while the head of advice delivery would be responsible for “next generation dealership services".

In an unusual move directly aimed at the commercial environment evolving out of the Future of Financial Advice changes, Barrett said it had been decided to create the position of head of distribution and transformation.