MLC & NAB Wealth has established a new executive committee to take NAB's new wealth management business forward.
These changes follow the strategy update NAB delivered to the market recently, which announced the formation of a new wealth business that would bring together MLC, PIW and nabInvest, MLC & NAB Wealth group executive Steve Tucker said.
"We have made some structural changes to ensure we are focused on our customers' needs and continue to grow our business," he said.
The new executive committee will consist of NAB's former private & institutional wealth business executive general manager Andrew Hagger, who will now take responsibility for MLC's insurance business.
Current nabInvest chief executive Garry Mulcahy will also now take accountability for MLC's investment management division and its "manager of managers" investment capability.
MLC's former investment management division general manager Michael Clancy will now run MLC & NAB Wealth's investment platforms.
Angela Mentis will continue to run NAB's Private Wealth business and will also take on accountability for the recently-launched NAB Family Office.
Plum Financial Services managing director Paul Carter will now lead a newly-formed business which will house all enterprise-wide functions, while Scott Hartley will take up Carter's former position.
NAB Financial Planning, MLC Advice Solutions, MLC Sales and MLC Marketing will also come together to create a new business, the executive general manager of which is expected to be announced shortly.
