Westpac/Rothschild reveal integration team
RothschildAustralia Asset Management’s former head of institutional Patricia Curtain and Westpac’s general manager of consumer risk Chris Smith have been appointed the joint heads of the Rothschild/Westpac integration team.
Following the deal announced earlier last month to combine Rothschild’s funds management business with the Westpac Bank, a team of 12 people have been assembled in the Rothschild’s O’Connell Street office in Sydney to develop a strategic blue-print for the integration of the two businesses.
Rothchild’s Jonathan Pain will head up the separately managed business as chief investment officer, with Andrew Brown heading up equities.
From the Westpac stable, Don Hamson will take on the newly created role of general manager of investments, with Callum Burns heading up global tactical asset allocation.
Also to be announced by early August is the new co-branded name for the Rothschild/Westpac wealth management business. Rothschild advertising agency Idea Works is currently conducting some market research for the appropriate name, which will ultimately replace the Rothschild brand in the first quarter of 2003.
“We are aiming to have the merged business operational by the end of the year,” Rothschild spokesperson Rob White says.
He says so far, the discovery stage on product integration has demonstrated a lot of complimentary areas between the two businesses.
“There are certain ones [products] that are not in our stable and likewise with theirs,” White says.
However, in areas such as ethical investments, both Rothschild and Westpac have vast product offerings, so they will be looking at combining these.
Curtain has had previous experience in other implementation roles, including organising Rothschild’s Premier Advisor Service and Rothchild’s ongoing relationship with Putnam.
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
