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NAB broking exec joins MLC

A senior executive has moved from NAB’s broking channel to the MLC leadership team, as the group continues to work through changes flowing on from a recent strategy update.

John Flavell, who was general manager NAB broker distribution, has been promoted to a new role as executive general manager wealth advice within MLC, according to a statement from the bank.

The appointment was announced as part of a range of changes to the bank’s broking team, which also included Anthony Waldron being appointed to lead NAB’s Growth Partnerships business as executive general manager. This encompasses NAB’s third party mortgage businesses including NAB Broker and Advantedge.

He replaces Antony Cahill, who is moving to a new role within NAB as executive general manager, digital and direct banking, according to the statement. Flavell’s replacement has not yet been named.

The move comes as the bank continues to work through changes outlined by chief executive Cameron Clyne and announced to the Australian Securities Exchange on March 13.

At the time, long-serving MLC chief executive Steve Tucker departed and was replaced by Andrew Hagger, among a range of executive changes that were part of a wide-ranging strategy overhaul.

The strategy changes were aimed at streamlining the business, reducing costs and duplication, updating and streamlining technology, and maximising returns.