Colonial to lose global asset boss
Financial services group ColonialFirstState is in the market for a new chief executive of its global asset management division as current chief Warwick Negus will complete his term at the end of a three-year contract on June 1, 2008.
Commonwealth Bank group executive of wealth management Grahame Petersen said Negus has increased the diversification of the business across asset classes and geographies since joining the group in 2005.
“Warwick’s energy and experience have been important in taking the business to a new level.
“We are now in the fortunate position to have a highly skilled leadership team that will be able to continue to refine and embed the strategy for the funds management business,” Petersen said.
An internal and external executive search is underway to fill Negus’ role.
Recommended for you
With regional and rural suburbs exhibiting high spare capacity to invest, Money Management speaks to three regional advisers on the opportunities beyond the major cities and the importance of a strong network.
Platform consolidation is expected to accelerate among financial advisers this year, as software company Finura pinpoints which two platforms are set to be the winners, thanks to this trend.
The software provider has made several appointments in its APAC wealth propositions team, with a focus on driving growth across digital advice, Xplan and strategic partnerships.
The platform has announced it plans to close its Xplore managed discretionary account service in 2026 which holds $2 billion in funds under administration.
