Westpac appoints Acting General Manager Advice

Westpac has announced the appointment of Ashley Stewart as acting general manager of advice to lead the transformation of the advice business and the "transition activities with Viridian Advisory", the bank said.

Westpac has entered into an agreement with Viridian for the firm to acquire part of Westpac's BT Financial Advice business. As part of the transaction, Viridian will also offer BT Group Licensees practices the opportunity to join a Viridian owned licensee advice model.

Stewart's appointment follows Jane Watts' move to general manager Westpac Retail and Premium Bank. Watts will remain in her current role of general manager advice and private wealth until 1 May 2019.

Stewart has been with the Westpac Group since 2011 and has served as national head of BT Group Licensees (which includes Magnitude and Securitor) since June 2018 whilst also serving as head of Westpac's private wealth businesses in Victoria and South Australia.

Watts said: "The smooth transition for customers and advisers is paramount to the success of implementing these changes. Ashley's deep experience in advice and across our business will be a key driver in this transition."

Stewart added: "I am excited to take up this role to see through the significant work already underway. Viridian Advisory is well progressed in the transition with a majority of offers already made to advisers within the Group. Early responses have been very positive. There is still a great deal of work to do."