Colonial First State's (CFS) decision to combine its distribution and marketing divisions was not linked to an internal review held last month, a company spokesperson said yesterday.
CFS chief executive Brian Bissaker yesterday appointed Linda Elkins to the newly-created position of general manager of marketing and distribution.
The appointment followed an extensive internal and external search to fill the position left vacant by current CFS advice business general manager Marianne Perkovic, the company said.
Elkins was hired as CFS general manager of marketing in April last year from Russell Investments, where she was managing director of superannuation.
In her new job, which is effective immediately, she will continue to report to Bissaker.
"Linda's new role streamlines our departments to more effectively deliver advice and product offerings to our clients," the spokesperson said.
"Bringing together the distribution and marketing divisions is completely unrelated to the internal realignment of product and investment services, and channel development."
Last month, CFS undertook an internal review of two business divisions, resulting in the formation of a combined group and the restructuring of a general manager position.
As a result of merging the two divisions, Alan Kenny's role as CFS general manager of product and investment services was no longer necessary.
"Following an internal review, two departments, product and investment services, and channel development, have been combined, which will be headed up by Peter Chun in the new role of general manager product and channel development," a CFS spokesperson said at the time.
"As a result of this change, Alan Kenny is currently exploring alternative opportunities within the group."
It is understood Kenny remains at the company.
