Insignia completes separation from ANZ

25 October 2022
| By Laura Dew |
image
image
expand image

Insignia Financial has completed the separation of its pension and investment business from ANZ.

This saw 1,257 employees transition from ANZ to Insignia, the separation of 638 commercial licence agreements and 589 applications that were separated or migrated from ANZ.

The firm said this would now enable it to further progress its activities on improving client outcomes and execute on strategic initiatives.

The simplification program also included the separation of the MLC Wealth business acquired from National Australia Bank which Insignia said was “on track”.

Chris Weldon, Insignia chief transformation officer, said: “Unravelling complexities to achieve a clean separation is no small feat. All of the systems and people supporting the P&I business and its clients have now transitioned to the Insignia Financial environment, reinforcing Insignia Financial’s ability to execute on strategic initiatives.

“We now have full control and management of the systems which support the P&I business. This enables us to unlock benefits of scale for our clients and people, aligned to our enterprise priority of simplification.”

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest developments in Super Review! Anytime, Anywhere!

Grant Banner

From my perspective, 40- 50% of people are likely going to be deeply unhappy about how long they actually live. ...

1 year 3 months ago
Kevin Gorman

Super director remuneration ...

1 year 3 months ago
Anthony Asher

No doubt true, but most of it is still because over 45’s have been upgrading their houses with 30 year mortgages. Money ...

1 year 3 months ago

Governor Bullock took a more hawkish stance on Tuesday, raising concerns over Trump’s escalating tariffs, which sent economists in different directions with their predict...

59 minutes 55 seconds ago

Equity Trustees has announced the appointment of Jocelyn Furlan to the Superannuation Limited (ETSL) and HTFS Nominees Pty Ltd (HTFS) boards, which have oversight of one ...

1 hour ago

Following growing criticism of the superannuation industry’s influence on capital markets and its increasing exposure to private assets, as well as regulators’ concerns a...

1 hour ago

TOP PERFORMING FUNDS