Skandia is on the hunt for a second platform business head in less that a year.
Current general manager for retail Mark Papendieck, who took the role at the end of 2006, is to leave the business on December 1. Papendieck joined Skandia as chief operating officer in 2005.
"Mark will continue to work closely with his senior management team and our platform clients over the next two months to transition his responsibilities," Skandia chief executive Ross Laidlaw said.
The group has suffered a number of departures recently; with national key account manager Judy Clark heading to BT in July, while regional manager Rob Thompson left for Macquarie in June.
Skandia is currently carrying out an executive search to find Papendieck's replacement.
At an investment briefing in December 2006 Skandia announced it had targeted $20 billion in funds under management (FUM) on its platform by 2008.
According to the latest data from InvestorSupermarket, Skandia currently has approximately $15 billion in FUM, which was an increase of about $1 billion since the announcement was made.
Not so long ago the average industry fund employed one chief executive and, perhaps if they were lucky, someone to lend a hand with making the tea.... read more »
Home delivered!
Daily news, weekday mornings
Get the day's news delivered direct to your inbox. Register here (it's free!) and choose 'yes' to receive the InvestorDaily newsletter.
Unisuper appoints TAAM »
Industry fund Unisuper has appointed boutique asset manager Treasury Asia Asset Management to a $151.1 million mandate.
LGSS adds $41m to direct property »
Industry superannuation fund the Local Government Superannuation Scheme has bought a Sydney office building for $41 million.
While conflict of interest has stopped advisers receiving more by referring one product over another, volume bonuses continue to exist and are typically distributed in a more equitable way between dealer group and adviser.... read more »
