Westpac’s van Rooyen lands role with Colonial
The previous head of business development at Westpac, Paul van Rooyen, has taken on the newly created role of head of retail distribution withColonial First State(CFS) less than a month after leaving his previous role.
Van Rooyen will be responsible for the distribution of CFS’s retail products, with the exception of corporate super, through the Commonwealth Bank’s advisory network and third party financial planners outside the group.
Colonial says the creation of the new position and the appointment of van Rooyen was the result of growth in the CFS product range and distribution channels.
The role would not be concerned with sales management and adviser relationships with responsibility for that area of the business remaining with Frank Casarotti and masterfund business development still under Adam Coughlan.
Rather van Rooyen’s role would concentrate on business management and he would be involved in the future direction of the CFS retail distribution.
Casarotti and Coughlan will report through to van Rooyen who in turn will report through to CFS distribution general manager Michael Cant.
Prior to his departure from Westpac van Rooyen was involved with business development on the consumer customers side of the group and prior to that was head of retail business development withWestpac Financial Services.
His departure from Westpac was one of a number of senior executives in the group who have left since Westpac began to absorb the purchases ofSagittaRothschild andBT Funds Management.
AUTHOR
Jason Spits
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.
