Zurich announces new Life & Investments leadership team post OnePath acquisition

Zurich has announced that Gavin Pearce, currently managing director of insurance at ANZ, will join Zurich as chief operating officer, Life & Investments following the firm's acquisition of OnePath Life, which is expected to be completed in March 2019.

Pearce is one of several announced appointees to the leadership team of the combined business which will be led by CEO Tim Bailey who has held the top job at the firm's Australian Life & Investments division since 2015.

Pearce, who has 40 years' financial services experience, is currently an executive director of OnePath's Australian Insurance boards, and New Zealand Insurance board. Previously he spent 25 years with AMP where he led a number of businesses including GIO and AMP Asia. Before this, he held business leadership roles with Citigroup and Tower Australia before joining ING Australia (now OnePath).

Joining Pearce and Bailey on the Life & Investments' leadership team will be:

* ANZ's Linda Griffin, who has been named as head of customer and corporate affairs.
* Zurich's chief distribution officer, Kristine Brooks, who will lead the distribution and marketing teams across the newly expanded business, whilst Matt Drennan continues as head of savings and investments.
* Gerard Kerr, as head of OnePath propositions and group insurance, and Tim Howell, as head of Zurich propositions, who will drive the expansion of the OnePath and Zurich market offerings respectively.
* Kieran Forde, currently head of wealth solutions and partnerships, ANZ, who will have responsibility for overseeing the strategic partnership with ANZ as head of bancassurance and direct.

In confirming the appointments, Zurich's APAC region CEO, Jack Howell, said: "Our acquisition of the OnePath Life business reflects both our commitment to the Australian life insurance market and our belief in the underlying quality of the business the ANZ and OnePath team has built."

He added: "This transaction brings together two highly successful businesses, each with a strong brand heritage and loyal customers. The senior leaders of both businesses are amongst the most talented and respected in the industry."

The existing leadership teams will remain in place at both Zurich and ANZ Wealth until the acquisition is complete.