Former Perpetual chief executive and managing director Geoff Lloyd has been appointed the new CEO of MLC, effective 1 September 2018.
The appointment follows National Australia Bank’s announcement in May that it will be exiting its Advice, Platform & Superannuation and Asset management businesses, currently operating under MLC and other brands, to allow a focus on a simpler wealth offering through nabtrade and JBWere.
In his new role, Lloyd will report directly to NAB CEO Andrew Thorburn.
“Geoff is a standout leader and the right person to lead through the transaction, establish a new standalone business and build it for the future,” Thorburn said.
Thorburn said Lloyd 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 structural change.
“The core MLC wealth management business is strong with great prospects and I am confident Geoff will not just assist in a successful transaction but also help realise the full potential of the new business,” he said.