Wealth heavyweights join FSC board

Some big names in wealth management have joined the board of the Financial Services Council, including from AMP and Challenger.

AMP chief executive, wealth management Alex Wade, Challenger chief financial officer Andrew Tobin and Jason Yetton - who is leading Commonwealth Bank's wealth demerger - have joined the FSC's board.

Meanwhile, Australian Unity wealth chief executive, group chief investment officer and current FSC director David Bryant will replace outgoing deputy chair and BT Financial Group boss Brad Cooper, who leaves the council after nine years.

The FSC thanked Cooper for his contribution to the council, noting his "expert guidance and support", during the industry's recent periods of challenge.

Wade is currently leading AMP's wealth management business after joining the company in December last year from Credit Suisse's private banking arm.

Initially his remit was solely related to financial advice after the departure of predecessor Jack Regan. However a leadership restructure earlier this year now sees Wade responsible for AMP's advice, wealth management, product and customer solutions teams.

Challenger veteran Andrew Tobin has served the company since 2007, when he joined as deputy chief financial officer.

He became Challenger chief financial officer in February 2012 and has worked in the role since. He previously spent time at Commonwealth Bank and MLC, where he was chief financial officer of the firm's Asia region wealth management office.

Yetton has spent the last six months leading the demerger of CBA's wealth business, having been appointed chief executive of its NewCo entity last October.

He previously spent more than 20 years at Westpac and BT Financial Group, including as group executive Westpac retail and business banking.

New FSC deputy chair David Bryant has served in his role at Australian Unity since August 2004. Between 2000 and 2004 he was chief operating officer at Perpetual and earlier spent almost 12 years at BT Financial Group.

Read more: ChallengerFSCBT Financial GroupAustralian UnityFinancial Services CouncilWestpacCBACredit SuisseMLCNewCo
Link to something aEYdDDlc