CBA's Brewis-Weston to lead FlexiGroup
FlexiGroup has appointed Symon Brewis-Weston as its new chief executive, replacing Tarek Robbiati who made a sudden exit in August.Brewis-Weston is currently chief executive of the Commonwealth Bank subsidiary Sovereign Assurance Co, a large New Zealand life insurer. He has held senior roles at CBA, including executive general manager local business banking and executive general manager corporate financial services.His first task will be to oversee the integration of New Zealand's Fisher & Paykel Finance, which FlexiGroup acquired last month.The deal will transform FlexiGroup, adding 430,000 Fisher & Paykel Finance card customers and NZ$662 million of receivables - taking the group to more than A$2 billion of receivables.New Zealand's contribution to FlexiGroup receivables will rise from 12 per cent to 38 per cent.David Stevens, who has been acting CEO over the past few months, will become chief executive of FlexiGroup New Zealand.Brewis-Weston will also have to restore the investment community's confidence in the company. In August FlexiGroup was criticised by a Morningstar analyst for "instability" and "lack of direction". Robbiati was leaving the company after only two years in the job and the company's chairman, Chris Beare, was also stepping down.