Austock Life revamps, hires new leaders

Austock Life has appointed new management to help its rebranding efforts and launch its new product range, aiming to capture the market of financial advisers and clients of different generations.

The specialist investment bond issuer has rebranded to Generation Life and will be led by Catherine van der Veen and Lucy Foster as joint chief executives in the New Year.

Van der Veen's 15 years of experience in global financial services roles includes leading teams across product and project management, distribution, marketing, retail banking, and wealth and investment management at CBA and Westpac.

She most recently spent a little over two years at CBA, firstly in an executive manager of wealth strategic development role, before a short stint as general manager of strategic projects in wealth management.

Foster also has global financial services experience, having worked across banking, wealth management and consulting.

She spent the greater part of the last decade working in managerial roles at CBA and CommInsure, most recently involved in leading various transformation agendas across customers, channels and products. Foster has also worked for Standard Life and KPMG in the UK.

Executive chair of the Generation Group, Rob Coombe, said attracting two highly qualified senior executives with complementary skills to embrace a job-shared leadership role is itself emblematic of "our progressive intentions as a company and financial brand."

Coombe said: "We have been growing our market share for many years and with our new offering, we believe that there is now daylight between ourselves and other competitors in this space. This has come at the right time as we are seeing renewed inquiry and investment given recent changes in superannuation."

Revitalising the business also marks an effort to raise awareness among investors about the flexibility and investment appeal of investment bonds, Coombe said.

The new product features includes tiered pricing, additional investment options and a range of good value index funds.

"Investment bonds are particularly useful for people who are unable to contribute to superannuation or those that can, but fear locking it away in an environment where there is constant change," he said.

"With investment bonds, there is no limit on how much can be invested and no preservation age. Combined with a tax environment significantly less than the top marginal tax rate and the ability to borrow against the investment, bonds are an ideal long-term savings vehicle."

The firm was founded 15 years ago and clients have entrusted more than $1 billion for the firm to invest.

Read more: Austock LifeCBACatherine van der VeenCommInsureGeneration GroupGeneration LifeLucy FosterRob Coombe
Link to something kVJtoayJ