Macquarie reshuffles banking and finance division

It is understood that Riccardo Briganti, head of research at Macquarie Private Wealth, and Patrick Dieter, head of insurance advice, have parted ways with the company.

John O'Connell, who was the global head of research at the financial services giant for more than 17 years, will take up the newly-created role of chief investment officer, banking and financial services.

The head of advice position is currently unfilled; the head of research position at Macquarie Private Wealth will be absorbed in the new chief investment officer position.

A Macquarie spokesperon would not comment on the reasons for the departures.

Mr Briganti had spent almost 20 years at Macquarie prior to his departure. According to his LinkedIn profile, he had been a senior strategist and senior quantitative analyst before becoming a division director.

Mr Dieter joined Macquarie in 2009 and spent time as head of insurance advice, head of paraplanning and head of the advice delivery team.

He was previously national risk development manager at Hillross Financial Services, and was also an assistant commissioner at the Australian Ice Hockey League.

These departures follow that of Tanya Branwhite, who left her position of head of Australian macro research at Macquarie Bank in January.

In February, Ms Branwhite took up the position of director of listed equities at the Future Fund.

She had been at Macquarie for 11 years.