Himbury to head up distribution at CBA

FormerWestpachead of financial planning and advice Brett Himbury has made the move to theCommonwealth Bank(CBA), being appointed yesterday to the role of executive general manager, distribution.

Himbury replaces former executive general manager for financial planning and advice services Geoff Austin, who has taken up the position of executive general manager, mortgages and investments, within the bank’s retail division.

Himbury will step into the role - which has been vacant since May - next Thursday, reporting to CBA group executive Stuart Grimshaw.

Himbury says while it is too early to spell out any future plans, he believes the bank is in a good position to build a greater focus on sales and service in the future.

In his new role, Himbury will be responsible for nearly 700 CBA internal planners, as well as the 200 odd planners associated with the CBA’s external dealer groupFinancial Wisdom.

Himbury says part of the lure of the job was the “mass client base and diverse distribution channels”, as well as the opportunity to combine advice and product manufacturing, which he flagged when he left Westpac in April this year.

Himbury left Westpac amid news that a new wealth management distribution role would be created within the BT Financial Group, following the bank’s purchase of BT and Sagitta.

The new redefined head of financial planning role, filled by former Merrill Lynch HSBC chief executive Scott Walters, bridges the gap between Westpac’s advisory network and BT’s wealth management business.

Himbury made the most of the time between appointments, striking a short-term deal with Tower Australia to provide advice on the restructure of its dealer group — Pivotal.