Tower rearranges team

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Friday, January 18th 2002, 12:33AM

Jim Minto, who recently regained the reigns at Tower Managed Funds, has annuounced a new management structure which brings Tower's managed funds and insurance businesses together.
Group managing director James Boonzaier says the move is part of the Tower's strategy to redefine its core business with a greater focus on wealth management, to take a more coordinated approach in the New Zealand market and to rationalise duplication in its managed funds and health and life businesses.
Changes announced include:
Tower Insurance managing director Paul Hunt will report through to the Tower NZ ceo Jim Minto.
Richard Baker has been appointed to a new position, general manager, risk and investment products. He will overview all investment and life risk products.
Ralph Stewart has been appointed to a new position accountable for New Zealand brand ownership, cross-selling across the New Zealand companies and for managing and building alliances and new ventures. He will be general manager, marketing and strategic development.
Jeff Page, previously general manager, sales and distribution for Tower Health & Life, has been appointed to the new position of general manager, intermediaries. He will be responsible for intermediary distribution of risk and investment sales to intermediaries, including Tower’s own network of advisers.
Appointments have yet to be made to new senior positions covering information technology and client service/operations.
Minto says the changes, effective immediately, would help improve the effectiveness of Tower’s New Zealand businesses, and in particular across its managed funds and health & life businesses where many opportunities existed to share resources and coordinate its offerings, especially at the distributor level. Minto says that while Tower Insurance has some differences to the rest of the New Zealand business, being predominantly direct selling and in different (fire and general) product lines, clear opportunities existed to work together in areas such as brand and cross-selling.

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