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Four advisers leave ASB Securities

Contributor:
Fuseworks Media
Fuseworks Media

Wellington, June 21 NZPA - ASB Securities has farewelled four advisers as part of a restructuring of its business.

The stock broker has previously said it was looking to discontinue its client advisory service, affecting six staff.

ASB chief executive relationship banking Stewart McRobie said the firm was keeping its transactional share broking business and it would still offer advice on certain stocks.

ASB Securities is owned by ASB, which is a unit of Commonwealth Bank of Australia.

The new business structure was more consistent with a private banking wealth management model.

Mr McRobie confirmed that four advisers have left, one of whom is Stephen Wright.

The restructuring came after a strategic review of its wealth businesses.

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