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CBA wealth, business, private banking heads to depart

Posted by Anton Murray Consulting on . Posted in News

InvestorDaily

CBA will see both Jason Yetton, chief of its wealth management and mortgage broking businesses (NewCo) and its business and private banking group executive Adam Bennett leave the bank in January. Mr Yetton was appointed as chief executive of NewCo in October last year to lead the intended demerger of the wealth management and mortgage broking businesses. In March, the bank suspended preparations for the demerger, prioritising customer remediation and the implementation of recommendations from the royal commission.

Since then, Mr Yetton has overseen the divestment of Count Financial, as well as refunding customers for past issues in the wealth management segment. CBA reported its exit of its aligned advice businesses remains on track for completion by June 2020. The bank’s CEO Matt Comyn commented: “Jason has played a significant role in the divestment of Count Financial and planning for the exit of the aligned advice businesses, as well as making substantial progress on remediation activities across our wealth businesses.”

The rest of this article can be found at investordaily.com.au.

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