Commonwealth Financial Planning (Commonwealth FP) general manager Neil Younger has jumped ship to join rival banking group ANZ.
Younger will join ANZ as head of practice-based financial planning next month, ANZ head of wealth, advice and distribution Paul Barrett said.
"Neil Younger is joining us from Commonwealth Bank to run our aligned licensees," Barrett told InvestorDaily.
Younger will join ANZ after spending little over 12 months in his position with the Commonwealth Bank of Australia-owned advice group.
He joined Comonwealth FP in September last year after replacing David MacKay, who left the group following a string of internal changes.
Colonial First State (CFS) general manager of advice Marianne Perkovic said she would assume the role of acting Commonwealth FP general manager in Younger's absence.
CFS would commence a search for Younger's replacement this week, Perkovic said.
Prior to joining CBA, Younger held the position of head of dealer groups with BT Financial Group.
His departure comes just weeks after Commonwealth FP agreed to an enforceable undertaking with ASIC.
