Royal and Sun Alliance has consolidated its financial services division from 20 units to five. Financial services CEO Dennis Fox said the restructure will draw the bigger brands such as Tyndall, Guardian Trust and Connelly Temple under the company umbrella in preparation for the implementation of the Financial Services Reform Act.

“Providers will be licensed under one banner regardless of what type of product they sell,” he said.

During the 1990s investment performance slumped causing mass defections from the company’s investment team and a loss of $1.1 billion.  

A recent InTech survey of Australian share funds showed Tyndall to be in the top 10 as fund managers return to favour.  Mr Fox said the biggest growth potential for the company remains the master trust market.