CBA unveils new Financial Wisdom boss

The Commonwealth Bank of Australia has announced the new head of its Financial Wisdom dealer group after appointing internal staffer Paul Barrett today to replace Jerome Bleijie following the latter accepting a posting elsewhere within the bank.

Barrett steps up from his existing role as Financial Wisdom national sales and development manager to take over from Bleijie in mid-October.

Barrett joined CBA earlier this year from Fiducian Portfolio Services (FPS) where he was head of wealth management.

CBA executive general manager financial planning and advice services Brett Himbury says the group began the search for a replacement two weeks ago after Bleijie was promoted to the position of general manager of the bank's mortgage wealth division.

“Paul has a strong rapport with the advisers balanced by an ability to lead the strategic development of Financial Wisdom in an ever-changing environment,” Himbury says.

As for Bleijie, he has been with the bank for three years and in his new role replaces Lyndell Fraser, who recently left the bank to join Suncorp.

“Jerome has made a significant contribution to the group and has done a great job in raising the proposition of the business in the eyes of our advisers,” Himbury says.

Meanwhile, Himbury, who has been nominated for a place on the board of the Financial Planning Association, says CBA is looking to take a more active role in promoting the planning industry to consumers.

“We've been actively working towards improving our proposition and now it's time to contribute more to driving the development of the industry itself," he says.

Himbury, who joined CBA from Westpac 12 months ago, says the group will lose out if the time and effort spent on "brushing-up" its proposition ends up being offset by consumers being suspicious of planners.