Key risk appointment at NAB
In the wake of a number of recent controversies, National Australia Bank (NAB) has appointed a new group chief risk officer.
The big banking group announced today that it had appointed the Hong Kong-based chief executive officer of its nabAsia group, Bruce Munro, to the group chief risk officer role.
Announcing the move, NAB’s chief executive, John Stewart, said Munro had a successful track record in dealing with a broad range of sophisticated products and financial instruments.
Munro succeeds NAB’s current group chief risk officer, Michal Hamar, who will retire in January next year, and will work alongside Hamar from the beginning of next month.
Recommended for you
Licensee switching may be on the rise, but AFSLs are still finding ways to make the process difficult with small licensees identified as the biggest culprits.
While technology is seen by many as the key to solving efficiency challenges for advisers, a consultancy head has argued that advisers themselves are contributing to this burden through unnecessary overcomplications of the advice process.
Findings from Russell Investments has shown clients are struggling to understand fee structures when receiving advice, even if the advisers believe they are transparent.
AMP’s advice platform has unveiled a low-fee investment menu aimed at expanding advisers’ client base by targeting individuals with less complex needs, in response to adviser feedback.