UP FRONT | PEOPLE
FMA appoints director of supervision
As the new financial advice regime begins the FMA has shifted its focus from transitional licences to monitoring the market, with advisers moving towards full licences. Leading this change is James Greig,
Fidelity shuffles top deck Fidelity Life’s current chief distribution officer Adrian Riminton will, next week, move into his new role while
new director of supervision. Greig has recently been appointed to the FMA’s executive committee and has reported directly to chief executive Rob Everett since 2020. Greig has led the FMA’s supervision team since 2016. The team is responsible for monitoring and supervision of managed investment schemes (MIS), supervisors, custodians, derivatives issuers and financial advice. Michael Hewes has been appointed head of financial advice, within the supervision team and will lead this
work, reporting directly to Greig. Everett said: “James is already making a great contribution to the FMA’s leadership as we ready ourselves for a significant expansion in our remit. In particular, we are now implementing the new regime for financial advice which came into force earlier this week. “James has proven himself an effective leader and played a major role both in our response to the Covid-19 pandemic and in the culture and conduct reviews into banking and life insurance in 2018.”
remaining on the company’s executive team reporting to chief executive officer Melissa Cantell. Cantell says Riminton expressed an interest in the role last year and was appointed following an extensive recruitment process which included external candidates. “We see risk management as a business-critical function and a strategic enabler for our customerled transformation,” Cantell says. “With plenty more regulatory and other changes expected in the years ahead, Adrian’s broad commercial background – including last year’s stint as our acting chief executive officer – means he’s ideally placed to help lead our business through our transformation.” Trecia Brown, Fidelity Life’s head of
professional development, will act as chief distribution officer while a recruitment process is conducted. Meanwhile, Fidelity Life’s previous chief risk officer, Anna Black, remains on the executive team as transformation lead for people, process and customer, a role she’s held since July last year. Black is playing a pivotal role on Project Watson, the technology project underpinning the company’s broader transformation. “These are truly exciting times for Fidelity life as we continue to make great progress with our customer-led transformation,” Cantell says. “We’re focussed on delivering sustainable, profitable growth so we can build confidence and trust and continue protecting New Zealanders’ way of life.”
Are you looking to sell a book of Insurance or Kiwisaver Business? You might know John Schell from his involvement with the PAA or Financial Advice NZ. He would like to speak with you if you are looking to exit the industry over the next couple of years. John Schell 021 644 621 john@getsure.co.nz
10 | ASSET 02 | 2021
