Dawson departs in Chifley Financial Services restructure
ChifleyFinancial Services has been restructured under its new owners, which has resulted in the departure of the financial planning general manager Peter Dawson.
Dawson, who was with Chifley for four years, is understood to be one of a handful ousted in the restructure and steps aside as Terry Malpass takes on the role of financial planning chief with the group.
Malpass is better known as the head of financial planning at FuturePlus, the advisory arm of industry superannuation fund, the Local Government Super Scheme (LGSS), which is a one-third owner of Chifley.
The remaining part of Chifley is owned by the Energy Industry Super Scheme (EISS) and the NSW Labour Council, each also with a third, after previous part owners Aberdeen sold it in late 2001.
Chief executive officer of the combined financial services group Brett Westbrook, who took on the role after heading up LGSS, says the new structure re-aligns the planning businesses of the three owners along functional lines and away from the entities themselves.
“Prior to this we had two teams operating in each part of the business. This step will be more efficient and focus the operations in the business,” Westbrook says.
FuturePlus will now share resources with Chifley. This includes the 29 planning, paraplanning and compliance staff who are being dual licensed to work under either group, with the Chifley name set to continue for the present time.
“We will maintain both names, as they are well-known to respective members, but there are plans to focus on a wider market beyond our members,” Westbrook says.
In a bid to ensure the combined groups work along functional lines, Westbrook has appointed seven general managers, including Malpass, to cover certain parts of the business.
These include Tony Butcher who will cover corporate governance, Mark Sainsbury from LGSS/EISS, who will be responsible for in-house funds management and Jim Thomas, previously acting general manager of Chifley Financial Services, who will now cover business development.
AUTHOR
Jason Spits
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