MLC has appointed former Perpetual managing director Geoff Lloyd as its new chief executive, after NAB announced its decision to depart the wealth management space.
NAB has announced that former Perpetual managing director and chief executive Geoff Lloyd will lead MLC as NAB moves to divest its wealth management business, as announced in May 2018.
Perpetual announced Mr Lloyd's departure as chief executive after five years in the role in November 2017.
Mr Lloyd's appointment, announced this morning by NAB chief executive Andrew Thorburn, will be effective from 1 September 2018.
Mr Thorburn described Mr Lloyd as "a standout leader" and "the right person to lead through the transaction, establish a new standalone business and build it for the future".
"Geoff has been in wealth management his entire career and has a vision and a passion for improving the financial prospects of Australians," Mr Thorburn said.
"He is a highly regarded executive with a proven track record of delivery, having successfully driven a major turnaround program at Perpetual through a period of significant change."
The shadow treasurer says advisers can’t be blamed for the high cost of advice as they struggle with increased levies ...
The advice network says it has upgraded its expectation for cost savings to $4 million as a result of Diverger’s ...
Single adviser-led firms continue to expand their footprint in the Australian advice ecosystem, Adviser Ratings research ...
Never miss the stories that impact the industry.
Get the latest news! Subscribe to the ifa bulletin