National Australia Bank Wealth’s Godfrey Pembroke dealer group has appointed former state manager at MLC Advice Solutions, Sean Allen, to the position of general manager, as sweeping changes to the group’s management structure continue under new chief executive, Andrew Hagger.
Allen, who replaces Peter Smith, will be responsible for boosting the productivity of Godfrey Pembroke’s 210 authorised representatives and adding new advisers to the network.
He will report to Smith, who has been promoted to general manager of advice partnerships. Smith reports to NAB’s new executive general manager of wealth advice, John Flavell.
The changes follow the April departures of Steve Tucker, chief executive of NAB Wealth and MLC; Michael Clancy, executive general manager of investment platforms; and, Scott Hartley, executive general manager of corporate and institutional wealth.
Former executive general manager of advice and marketing, Richard Nunn, also recently accepted a position as NAB’s general manager of market and alignment for Asia, based in Singapore.
NAB is in the middle of an $800-million cost-cutting plan and technology transformation, designed to reduce complexity and duplication across the bank, and to deliver a simpler product suite including straight-through processing.
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