Colonial First State (CFS) has undertaken an internal review of two business divisions resulting in the formation of a combined group and the restructuring of a general manager position.
In a statement from CFS, the company has reviewed the business units of Product & Investment Services and Channel Development and combined them into one division.
As a result of merging the two divisions, Alan Kenny's role of CFS general manager product and investment services is no longer needed.
"Following an internal review two departments Product & Investment Services and Channel Development have been combined which will be headed up by Peter Chun in the new role of General Manager Product & Channel Development," a CFS spokesperson said.
"As a result of this change, Alan Kenny is currently exploring alternative opportunities within the group."
It is understood that Kenny has not left the company.
