Richard Klipin will lead the distribution team, which is responsible for the distribution of products to advisers, banks and corporate partners through New Zealand.
Klipin was most recently chief executive at Milennium 3, part of ANZ Wealth.
There, he led one of Australia's biggest dealer groups, with 440 advisers in more than 290 practices.
Before that, he was chief executive of the Australian Association of Financial Advisers.
Sovereign chief executive Symon Brewis-Weston said Klipin's experience and leadership background would be a benefit for the company.
“Richard’s proven track record as a successful leader within the insurance industry along with his ability to navigate and lead through times of regulatory and industry change, made him ideal for this important leadership role.
"An important area of focus for Richard will be supporting distribution networks through a time of changing customer expectations, potential regulatory change and partnering with these networks to provide quality advice and support to customers."
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