Sovereign loses distribution boss

The changes continue at Sovereign with one of the executive leadership team leaving.

Friday, September 2nd 2016, 6:00AM

Sovereign chief distribution officer Richard Klipin is leaving the company, after joining it less than a year ago. His departure comes as the insurer conducts a shake-up of its senior management team, which is expected to affect at least five roles.

Kiplin has been highly-regarded by advisers and the various dealer groups in the market.

The role of chief distribution officer is part of the Executive Leadership Team at Sovereign and has a strong focus on the strategic direction of the business. Klipin has been the leader and mentor to the distribution team and was responsible for strategic growth across the key channels. These include adviser, bank and corporate market segments.

In a fast changing market and environment the CDO role has a key role to lead, drive and grow the business whilst nurturing key relationships and mentoring staff. It is an exciting role in a market leading business.

His previous roles included running a group in Australia, Millennium3, as well as being the chief executive of the Association of Financial Advisers - Australia's equivalent to the IFA and PAA.

Millennium3 is one of the largest Financial Planning licensees in Australia with 420 advisers in 290 practices.

Sovereign said, in a statement, Klipin was to pursue other opportunities.

"Richard has led our distribution team with a strong focus on re-engaging with the market. He has also driven a number of key initiatives within the business."

While it looks for a replacement, the distribution team will report directly to Sovereign's new chief executive, Nick Stanhope.

Klipin finished on August 31.

Sovereign has also appointed its chief officer of health business, Len Elikhis, to the role of chief product officer.

Tags: Sovereign