Newnham departs Zurich as Smith steps up
Head of distribution atZurich Financial Services Australia, Steve Newnham, will officially step down from the role today, making way for assistant head of sales Janet Smith to take on the top job.
Newnham, who has acted as head of distribution for the group for just under four years, will step down from the role today but will remain with the group until March to assist with Smith’s transition into the role.
Newnham has not announced what his next move will be, simply that it is time for a break before pursuing other work interests which will provide more balance in his personal life and commitments.
He will, however, remain on the boards of several Zurich subsidiaries.
Smith, who will now head distribution for the group’s Investment Management and Life Risk businesses, originally joined Zurich earlier this year as assistant head of sales.
The group created the role of assistant head of group sales with the aim of coordinating its key accounts, master trust, risk, investment and life sales strategies.
At the time the group said the creation of the new role was part of its increased sales push in life risk and managed funds.
With Smith’s promotion however, a spokesperson for Zurich says her former position will not be replaced, but the responsibilities rolled into her new function.
Smith has 20 years experience in the financial services industry, including director of distribution - advisers’ channel, for Prudential in Singapore, where she managed a field force of 2800 tied distributors.
Other previous roles include general manager of financial planning with Investec Private Bank, and general manager of licensed financial services with theColonialGroup.
Recommended for you
AFCA has confirmed United Global Capital’s membership of the body will not be extended to accept further complaints, avoiding a repeat of the Dixon Advisory scenario.
Three of Australia’s largest financial advice groups have shared their thoughts with Money Management on whether they would include crypto on their approved product lists.
Shadow treasurer Angus Taylor has vowed to introduce a bill to legislate a raft of financial services reforms if the Coalition is elected.
Money Management examines the share price of financial advice licensees over one year to 31 March, with M&A actions in the final quarter having a positive effect for two licensees.
