In a statement, Integrity Life said Sean McCormack, MLC Life’s current chief of life insurance, would step into the role of CEO from 22 March next year.
Mr McCormack had had an 11-year career with MLC and was “exceptionally well regarded in the industry with experience that spans the full lifecycle and value chain of the life insurance market”, Integrity said.
The insurer added that Mr McCormack had a specific interest in enabling life insurance advice through technology, which makes him uniquely suited to Integrity”.
Integrity chairman Eric Dodd said the insurer was delighted to appoint someone of Mr McCormack’s calibre and experience.
“He has an exceptional track record and is incredibly well regarded by industry participants, across the spectrum of super funds, corporate clients, licensees, advisers and their various associations, as well as our regulators,” Mr Dodd said.
“His joining Integrity should serve as further confirmation to the market that we have the right strategy and a first class team to deliver it.”
The news follows Integrity’s founding chief executive Chris Powell stepping down in March after a 40-year career in financial services.
Integrity chief financial officer Lesley Mamelok had stepped into the chief executive role in an interim capacity, and would return to her original role once Mr McCormack commenced work, the company said.
Maybe Integrity should have done an adviser survey on the performance of MLC Insurance over the last 18 months to realise that the leadership of MLC couldn’t guide a battleship through wet paper.
How can the industry change for the better if the same old people just jump from company to company with the same old ideas? MLC basically couldnt even do business for 3 months due to the new system, they cant make money either they just raise premiums all the time. It will take years to shake the tree and get rid of all the dead wood in these roles.
Good poach