Wed, 22 Sep 2004
TOWER Limited announced today that it will be bringing all of TOWER's operations in New Zealand into one organisation and will be appointing one Chief Executive Officer for TOWER New Zealand.
TOWER New Zealand currently operates through two divisions, TOWER New Zealand Insurance & Operations (Chief Executive, Paul Hunt) and TOWER New Zealand Investment Businesses (Chief Executive, Paul Bevin).
"It has become apparent that a more streamlined and cohesive structure for the entire New Zealand business will greatly enhance TOWER’s ability to leverage the strength of the brand in this market,” said Group Managing Director, Keith Taylor.
"TOWER is a leading wholesale fund manager with a consistent record of top quartile performance. It also has a strong position in the insurance markets in which it operates. We are committed to both of these businesses and the strategy for TOWER New Zealand over the next few years is one of substantial growth and further improvement in its market position. The new Chief Executive - TOWER New Zealand will have a key leadership role in ensuring these objectives are met."
A search programme for the position, which is expected to take several months, has commenced. Paul Hunt and Paul Bevin have indicated they will not be seeking the new role but will continue in their current roles in the interim, ensuring business continues as usual.
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