Colonial First State former head of distribution Nicholas Allen has moved to Merrill Lynch to establish a pension and sales business.
"It's a great opportunity for Merrill Lynch to introduce their global products into the Australian superannuation market," Allen said.
It's also a new area for Merrill Lynch to grow its business given the growth in this market, he said.
Allen will begin his new job next month and envisages that a team of four people will be hired by the end of the year.
The merger between Merrill Lynch and BlackRock could also mean more opportunities for the business, said Allen
"I envisage we will also be working closely with BlackRock in making their products available to the superannuation market," he said.
Allen was with Colonial First State for seven years.
