PEOPLE

MMC turns to big names

MMC has appointed two new independent directors to its board. Carmen Vicelich is the founder of Valocity Global and Data Insight, having built up both multimillion-dollar businesses within the space of five years. Vicelich has won numerous awards including finalist in the EY Entrepreneur of the Year awards; CIO Winner of Digital transformation; NZDM Nexus Supreme Winner Award; and Winner 2019 Global Fintech Startup of the Year.

Paul Mersi is an independent company director and consultant, having previously been a senior financial services and tax partner with PricewaterhouseCoopers. His current roles include being a member of the Financial Advice Code Working Group and a director of Ngai Tahu's Whai Rawa Fund.

Mersi was a member of the government-appointed independent Savings Working Group, a director of Brook Asset Management and early in his career held a senior policy position in Inland Revenue with secondments to the OECD and the NZ Treasury.

MMC managing director Tom Reiher said Vicelich’s “expertise with data, and ability to leverage technology, is an invaluable asset.”

Reiher added that Mersi’s “governance proficiency and in-depth knowledge of the funds management and advisory industry will be essential to ensuring we are a step ahead of upcoming changes in the regulatory environment.”

With the recent acquisition of Aegis, MMC has more than 100 clients, with combined funds under administration in excess of $77 billion.

Fidelity Life promotes from within for head of adviser distribution role

Fidelity Life has promoted Todd Allan to become head of adviser distribution. Allan, who has worked for both Asteron and Sovereign, will report to Adrian Riminton, Fidelity Life’s joint acting chief executive and chief distribution officer.

A key focus for Allan at New Zealand’s largest locally owned life insurer will be supporting advisers through a period of change. “The new financial advice regime, conduct and culture changes and Covid-19 are all having an impact on our business,” said Riminton.

“We’re focused on a sustainable future for advisers’ businesses and ours, and Todd has a critical role to play in delivering this.”

A new leader for Westpac's investment arm

BT Funds Management NZ has appointed Philip Houghton-Brown as head of investment solutions. Houghton-Brown joins BT after eight years at Mercer (NZ), where he was chief investment officer and prior to that its head of investments. He has also held senior roles at OnePath NZ/ING NZ and AMP Asset Management. Westpac NZ’s acting head of investments and insurance, Nigel Jackson, said Houghton-Brown would bring a wealth of expertise to the role. “Philip has a strong background in managing investment portfolios for retail, wholesale and institutional clients. “His breadth of knowledge in managing balanced funds will provide real value to BTNZ and our investors.” Houghton-Brown takes up his new role in late September.

Life in the fast Lane suits Cigna

Tony Lane has been appointed chief risk officer at insurer Cigna, bringing with him a wealth of banking and financial services sector experience.

Chief executive Gail Costa said the role had been created as a result of Cigna and OnePath combining earlier this year.

“We’re excited to have Tony join our leadership team. We now have the perfect opportunity to build upon our existing risk management activities to deliver a programme that meets the needs of our larger organisation.”

Former Fidelity man seals the deal

Craig Winterburn has been appointed national network development manager at dealer group SHARE. Until recently he was general manager distribution at Fidelity Life and he has previously held senior roles in Asteron Life and AMP over more than 20 years working in financial services.

Winterburn starts immediately, with advisers and suppliers having the opportunity to welcome him at the relaunched annual conference at the end of August.

Haaking back to the old days

Sovereign's former head of distribution, David Haak, has joined Cigna to strengthen its team of advisers in the firm’s Takapuna office.

Haak stepped down as Sovereign chief distribution officer in 2015. He has more than 35 years’ experience in the insurance industry, 19 of which have been as an executive at Sovereign. A

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