The Trust Company has restructured its management model resulting in the managing director of its Guardian Trust entity departing the group.
"Regrettably this move to a group model has meant the role of managing director of Guardian Trust is no longer required," The Trust Company said in a statement to the market yesterday.
John Botica, who has led the New Zealand-based trustee and wealth management company since 2010, will leave the group effective 31 July, the statement said.
"John made a significant contribution to the company during its integration with The Trust Company last year, and we were privileged to have his support and expertise throughout this time," company chief executive John Atkin said.
"We wish John all the best for the next stage of his career."
Guardian Trust retains a strong executive team, the company said.
As part of the restructure, The Trust Company has reshuffled a number of executive positions within the group.
Company chief financial officer David Grbin has been appointed executive general manager of corporate client services.
The new role, based in Sydney, will support operations in Australia, New Zealand and Singapore.
Grbin will continue to act as chief financial officer until The Trust Company has appointed a replacement.
Ray Gould and Phil Morgan Rees, based in Australian and New Zealand respectively, will continue to operate Personal Client Services on a country management basis. Both will report directly to Atkin.
In March last year The Trust Company acquired Guardian Trust from the Suncorp Group for $31.6 million.
