The Trust Company has made key changes to its executive team following its acquisition of The New Zealand Guardian Trust Company.
“While we will maintain the Guardian Trust name in New Zealand, we are moving quickly to establish a unified management structure to ensure we take full advantage of the opportunities presented by the merger of our businesses,” said The Trust Company chief executive John Atkin.
The Guardian Trust’s John Botica joined the executive team on completion of the acquisition. Cathy Stephenson was appointed executive general manager of business operations and information systems following the restructuring of Guardian Trust’s operations. Atkin said that Stephenson was ideally placed to lead the upgrade of group’s operating processes and IT systems upgrade.
Chris McDermott has joined the group as general manager of information systems to support Stephenson, while Ray Gould has been appointed executive general manager of personal client services in Australia.
The Future Fund’s CIO Ben Samild has announced his resignation, with his deputy to assume the role of interim CIO.
The fund has unveiled reforms to streamline death benefit payments, cut processing times, and reduce complexity.
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AMP has reached an agreement in principle to settle a landmark class action over fees charged to members of its superannuation funds, with $120 million earmarked for affected members.