Zurich Australia (Zurich) has combined the executive general manager roles of its life and investment divisions, resulting in Matthew Drennan's position being made redundant.
The merging of the roles is part of an internal restructure, Zurich Australia chief executive life and investments Colin Morgan told InvestorDaily.
"We've realigned ourselves internally. So it's a fairly simple internal restructure of our business but, essentially, we have been running separate businesses for our life and investment businesses," Morgan said.
"We felt it was time in the cycle to get closer alignment with essentially our sales teams, our operational teams and our marketing teams. So we've got them closer together and as a result of that we've essentially changed some of the roles."
As part of the changes, three staff have been promoted while Drennan's role as executive general manager investment was made redundant.
"That role will no longer exist here in Australia ... but Matt hasn't left the organisation," Morgan said.
"Matt is going to be talking to us about international roles which we are in the process of doing."
Under the changes, Zurich head of sales - life risk Philip Kewin will become general manager retail life and investments,while Zurich head of retail sales Kristine Wade will become head of sales for life and investments.
Zurich investment chief operating officer (COO) Stephen Latham will move into the role of Zurich life and investments COO in August when the company's current COO Chris Rutherford retires.
Zurich life marketing manager Richard Dunkerley will move into the role of head of marketing for life and investments.
Morgan said it was important to note that despite the merging of roles, Zurich was not combining second-tier roles such as business development managers (BDM).
"We're not integrating BDMs or anything of that nature. So there is no change to our BDM structures and our regional managers. It's really just the layer above," he said.
The management changes are effective 1 March.
