Colonial First State has announced a major shake-up of its executive management team, with Chief Executive Officer Brian Bissaker reportedly leaving his post after the role being made redundant.

 

Group executive, wealth management, Annabel Spring confirmed the restructuring, saying that the changes were being made in response to regulatory impacts, the acquisition of Count Financial and the continued growth fo the advice business.

 

“I would like to thank Brian for his substantial contribution to Colonial Frist State over the past 10 years, including the development of a very strong team, reaching number one in satisfaction and attaining $59 billion in platform funds.” Ms Spring said.

 

Also announced in the restructure was Marianne Perkvic’s promotion to leading the Advice business, while Linda Elkins will assume interim responsibility for the remaining business units.