- Suncorp’s Summerhayes Moves to APRA;
- MLC Names New Head of Direct Advice;
- Bombora Advice Appoints New Chair
Suncorp’s Summerhayes Moves to APRA
Former Suncorp Life, Chief Executive, Geoff Summerhayes has been appointed as a member of the Australian Prudential Regulation Authority (APRA) for a five term from 1 January 2016.
The appointment was made by the Federal Treasurer, Scott Morrison, who also announced that current APRA member, Helen Roswell would become full-time deputy chair until the end of her five-year term in mid-2018.
Summerhayes had been with Suncorp for five years and oversaw the Australian and New Zealand operation and has also worked at Lend Lease, MLC and NAB.
APRA stated that with his 20 years of property and financial services experience Summerhayes would focus on APRA’s activities in relation to general, life and private health insurance.
APRA Chair Wayne Byres said Summerhayes would “bring a great deal of commercial acumen and experience to the position of APRA Member”, with his appointment also welcomed by the Financial Services Council (FSC).
Summerhayes was a director of the FSC from 2010 until September 2015 and co-chair of the FSC’s Life Board committee from 2011 to 2015.
FSC chief executive Sally Loane stated Summerhayes “leadership during the life insurance reform process over the past 12 months was outstanding and his long experience in the private sector in financial services will be valuable as he takes up his APRA position”.
MLC Names New Head of Direct Advice
MLC has named Vanessa Rowe as the General Manager of MLC Direct, filling the role previously held by NAB, Wealth Advice, Executive General Manager, Greg Miller prior to his appointment to that role.
Rowe was internally appointed and was previously the head of MLC Advice Network for close to four years and has been with the NAB group since 1998 having worked for its Godfrey Pembroke and MLC arms and has experience in financial advice, risk management, superannuation and platforms.
Bombora Advice Appoints New Chair
Boutique financial planning group Bombora Advice has appointed a chair from outside the financial services sector naming former Linfox and Nufarm executive Kevin Martin to the role.
Bombora, Managing Director and founder, Wayne Handley, said the appointment commences in January and is part of the group’s shift to become professional advice and services firm.
Handley said Martin had a background in assisting businesses to develop and implement strategies, acquisitions, disposals, integrating acquisitions, corporate change programs, internal winning cultures/teams and structures.
At present, Martin is the Managing Director of consulting company Alto Nominees, Executive Director of the RYCO Group of companies and a Non Executive Director at Agrocel Industries and the Children’s Cancer Foundation.
