Peeyush Gupta has been appointed as an external director to MLC’s advice and licences board.
The board oversees the planning networks of Godfrey Pembroke, Garvan Financial Planning, MLC Financial Planning, Apogee Financial Planning and NAB Financial Planning.
In MLC’s submission to the Ripoll inquiry, the group said licensee boards of affiliated businesses should comprise a majority of external directors. MLC and NAB Wealth executive Richard Nunn said Gupta’s appointment supported this recommendation, and “puts the focus on governance rather than product distribution”.
Gupta was the co-founder and inaugural chief of ipac Securities, a role he left earlier this year. He was also recently appointed a director of AMP Capital Investors.
