OnePath & ANZ Wealth Advice Merge

ANZ Wealth has announced plans to merge the OnePath and ANZ Wealth advice and distribution businesses.

ANZ has stated that the changes are vital to ensure the business has the right management team to deliver its strategic priorities.

The announcement was made last week to ANZ Wealth and OnePath staff, telling them the new model will help ANZ manage the challenges arising from the Future of Financial Advice (FoFA) reforms, rather than running two separate operations.

ANZ's new General Manager, Advice and Distribution, Paul Barrett also added that he was keen to leverage the strength of the group's life insurance offering.

Mr Barrett also said the new restructure better supports their product offering through sales, marketing and administration.

A number of new appointments have also been made with a new Head of Distribution Business Transformation, Head of Advice Development, and Head of Business Management

June 2011