Bendigo and Adelaide Bank has expanded its operations with the launch of a new wealth management business arm.

Bendigo Wealth, the new unit, is led by John Billington, who joined the bank in September 2010 from IOOF. In a statement, the bank said that the decision to consolidate their wealth management services under one umbrella was based recommendations from customers who had requested access to a full suite of banking and investment products and services.

"Bendigo Wealth as a brand will make it easier for our highly valued distribution partners to explain the product range to clients -- and for clients to more easily make the connection to a financial services brand," said Billington.

The bank expects to open more branches to promote its wealth brand over the next months, with the view to hire more staff and financial advisors. At present, Bendigo has around 70 financial planners and 50 frontline staff. It has A$4 billion in funds under management.

Existing Bendigo sub-brands, such as Leveraged Equities, Adelaide Bank Wealth Deposits, Sandhurts Trustees, Victorian Securities, Bendigo Financial Planning and Insurance, and their respective products ranges.