US-based insurance and financial services provider MetLife is definitely focused on keeping its Australian operations, according to MetLife Australia’s head of institutional business Richard Anderson.
“We’ve had a very successful 2009 and have initiatives in place to ensure success in 2010 and MetLife US has been involved in our strategic direction and business plans,” Anderson said.
MetLife has posted net losses in the past three quarters, according to the company’s financial statements. The company lost US$2.657 billion for the nine months ended 30 September 2009.
Additionally, MetLife Australia will try and find a replacement for outgoing chief executive Tassin Barnard by the end of the year and has already identified several candidates, Anderson said.
“MetLife has a policy in place where we have identified suitable candidates both internally and externally and we’ll be interviewing them immediately,” he said.
“We’re hopeful that an appointment will be made by the end of the year.”
Barnard, who joined MetLife Australia as chief executive in May 2007, resigned from her position on 10 November 2009. She has agreed to stay on with MetLife until the end of the year.
“She is essentially leaving the company to focus on her interests in wildlife preservation and a number of interests related to that,” Anderson said.
Barnard’s departure wouldn’t impact MetLife Australia’s operations, Anderson said.
“Tassin has contributed to the direction of the company and the direction will remain purely on our insurance focus and corporate customers and our retail direct arm,” Anderson said.
