Commonwealth Private Bank’s long search for a permanent executive general manager has ended after the group appointed Adrian Hondros to the job.
Hondros has served the division as acting general manager since April when former head Richard Nunn left the group and became MLC & NAB Wealth’s executive general manager, advice and marketing.
It is the third role for Hondros in as many quarters. He was recently chief executive of St Andrew’s Australia, which was acquired by Commonwealth Bank of Australia as part of its $2.1 billion BankWest purchase.
The appointment also coincides with Commonwealth Private Bank’s recent victory in the $1 million to $10 million category of the Australian Private Banking Council’s Private Bank Awards.
The award is the result of interviews with more than 500 high net worth clients of private banks in Australia.
“We entered the Australian Private Banking Awards to benchmark our service against the best in the industry and we continually strive to surpass the high standards we set for ourselves,” Hondros said.
Rival Westpac Private Bank won the award for the most outstanding private bank in the $10 million-plus client segment.
Hondros said Commonwealth Private Bank’s priority over the next few years would be to enhance overall financial advice and wealth management capabilities.
“As we build our future growth plans we expect to be growing the total number of people in our business and will be considering new locations for our services,” he said.
“Our most recent new Commonwealth Private office was opened in Wollongong in April this year.”
