In a statement on Wednesday, Zurich outlined changes to the roles of executives on the c-suite level of its Life and Investments business that would kick in March 2019 following completion of the OnePath acquisition.
Zurich chief executive Tim Bailey will remain in his position to lead the “combined business”, while a number of ANZ executives will join Zurich.
The changes are as follows:
- ANZ managing director, insurance Gavin Pearce to become Zurich Australia life and investments chief operating officer;
- ANZ head of corporate affairs and strategy Linda Griffin to become Zurich life and investments head of customer and corporate affairs;
- Zurich life and investments chief distribution officer Kristine Brooks to “lead the distribution and marketing teams across the newly expanded business”;
- ANZ head of life insurance, ANZ wealth Gerard Kerr to become Zurich head of OnePath Propositions and Group Insurance
- ANZ head of wealth solutions and partnerships Kieran Forde to become Zurich life and investments head of bancassurance and direct to oversee the relationship between Zurich and ANZ
- Zurich head of Propositions Tim Howell to continue in his role
- Zurich head of savings and investments Matt Drennan to continue in his role
- ANZ OnePath head of sales Don Sillar to continue in his role until acquisition completion, upon which he will depart ANZ.
Commenting on the raft of appointments, Zurich chief executive, Asia-Pacific region Jack Howell said the acquisition of OnePath represented a belief in the ANZ business.
“This transaction brings together two highly successful businesses, each with a strong brand heritage and loyal customers. The senior leaders of both businesses are among the most talented and respected in the industry,” said Mr Howell.
Zurich Australia chief executive, life and investments Tim Bailey said that the “balance of the team”, which incorporates staff from both ANZ and Zurich, reflected Zurich’s “dual proposition strategy”.
“We will continue to invest extensively in both the Zurich and OnePath brands and propositions, ensuring both advisers and customers can benefit from genuine choice and a superior customer experience,” Mr Bailey said.
Until the formal acquisition, ANZ Wealth and Zurich will continue to operate as separate business on a ‘business-as-usual’ basis.
