After two years MLC chief executive, Geoff Lloyd, will leave at the end of October following the recent sale agreement with IOOF.
MLC said it was a “natural progression” and Lloyd was now able to take some “well-deserved time and consider his next role”.
MLC chief corporate services officer, Andrew Morgan, would oversee MLC’s day-to-day operations while the firm continued to work towards the completion of the sale to IOOF.
NAB chief executive, Ross McEwan, said: “I would like to thank Geoff for his leadership, passion and commitment to getting things right for clients and motivating our teams to remind MLC what it is like to win again.
“He has led MLC through remediation, separation and growth all within the difficult circumstances of COVID-19.”
In a note to MLC, Lloyd said: “I am proud to have taken on this challenge. The level of change required was definitely larger than I first anticipated however you all quickly got behind the refreshed strategy, including those of you who preceded me and also those who joined to help reset and reshape MLC. Like me you all saw the opportunity in this great brand and the need for leadership in the wealth market.
“As you all know, I am also particularly proud of the way we have adapted to the COVID-19 pandemic and constantly prioritised clients and our people during this period of national stress. You never missed a step, in fact you picked up the pace and did amazing things.
“I am grateful to have had the opportunity to lead and be part of the most cohesive, experienced and committed executive leadership team of my career.
“They are each special and talented, and collectively outstanding. Along with this team, I’ve loved tapping into our Delta leadership group and CEO circle for inspiration and help. I have had no regrets in taking this role and will always be appreciative of the chance to serve our clients and set up the business to help more Australians create future confidence.
“Many of you will be part of that bright future at IOOF as it acquires MLC.”
