Former chief executive of two ANZ Wealth subsidiaries Matthew Brown has been hired as executive general manager for advice at Australian Unity Wealth and Capital Markets.
Mr Brown was previously a senior executive within ANZ Wealth, serving as chief executive of the Millennium3 and Financial Services Partners subsidiaries.
Both licensees were among the businesses purchased by IOOF as part of its acquisition of ANZ's wealth division.
Mr Brown makes the move after more than six years at ANZ, where he began as head of advice development, a role he held for nine months before taking on the chief executive roles for Financial Services Partners in August 2012 and then for Millennium3 as well in August 2015.
Prior to ANZ, he spent five years at Colonial First State as head of distribution development and later head of advice development.
Australian Unity wealth chief David Bryant said: “Increasing our advice capability is clear and tangible evidence of how we invest our profits back into the business, and provide our members and customers with services that make a genuine difference to them and their quality of life.
“With the growing scrutiny around the financial services industry, it’s important that independent and trusted institutions like Australian Unity are leading the way in providing quality and transparent advice that is in the best interest of customers.”
The operations of ANZ-aligned licensees came under considerable scrutiny during the second round of hearings at the royal commission.
Mr Brown will step into his new role in the beginning of July.
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