NAB has announced it has appointed a new chief executive of its superannuation and investment business, MLC Super.
Matthew Lawrance has been appointed the new chief executive of MLC Super, according to a statement.
Mr Lawrance has been acting in the role of NAB’s chief technology and operations officer for the past seven months, the statement said.
In addition, he will also represent NAB on the Financial Services Council.
NAB chief executive Andrew Thorburn said: “Matt’s role will be to continue to elevate MLC Super in the Australian marketplace and to advocate for our customers and their retirement.
“I am pleased to appoint Matt to this role and know that his customer focus and deep experience leading complex businesses set him up well to lead MLC Super.”
Mr Lawrance said he was optimistic about the future of MLC Super in helping Australians plan for retirement.
“We know that too many Australians don’t understand their super and don’t feel confident that they can reach their financial goals,” Mr Lawrance said.
“I believe that the role of Australia’s largest retail super fund goes beyond just managing investments for Australians. We also have an important role to help customers to get the right help, guidance and advice so they can plan and reach their financial goals.”
Several firms have been impacted by the corporate regulator’s action.
Super funds must now have a retirement income strategy in place.
Vanguard has called for a complete overhaul of the advice industry.
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