MLC makes key insurance hire

In a statement, NAB-owned MLC said it has appointed Russell Hannah to the newly created position. Mr Hannah will be responsible for the retail advised insurance team, overseeing distribution and sales, key account management and specialist insurance functions, along with sales analytics and insights.

MLC's general manager of retail advised insurance, Melissa Heyhoe, said: "As we transition into a specialist insurance business, it's imperative that we have end-to-end ownership and accountability for the way our business services and supports advisers."

She added: "Russell's appointment will ensure we are at the forefront of driving organisational and broader industry change."

Mr Hannah returns to MLC after working two years for BT Financial Group as its state manager for NSW and ACT, according to his LinkedIn profile. He also previously held roles at Aviva and ING Australia. 

NAB announced in October 2015 that it would sell 80 per cent of its life insurance business to Japanese life insurer Nippon Life. The bank retained ownership of its existing investment business, which includes superannuation, platforms, advice and wealth management.