National restructures following MLC takeover
The National Australia Bank will separate its insurance and investment operations from banking in a restructure, following the acquisition of MLC from Lend Lease.
The National Australia Bank will separate its insurance and investment operations from banking in a restructure, following the acquisition of MLC from Lend Lease.
Lend Lease announced the conditions for the acquisition had been met and the sale will be completed tomorrow.
The National said its new structure will separate its banking businesses from its major investment and insurance operations.
The MLC financial services businesses will be owned by the National's life insur-ance subsidiary, National Australia Financial Management (NAFM), while the ex-isting service and infrastructure entities of NAFM and MLC will be combined un-der the direct ownership of the National.
Recommended for you
The central bank has released its decision on the official cash rate following its November monetary policy meeting.
ASIC has cancelled the AFSL of a Melbourne-based managed investment scheme operator over a failure to pay industry levies and meet its statutory audit and financial reporting lodgement obligations.
Melbourne advice firm Hewison Private Wealth has marked four decades of service after making its start in 1985 as a “truly independent advice business” in a largely product-led market.
HLB Mann Judd Perth has announced its acquisition of a WA business advisory firm, growing its presence in the region, along with 10 appointments across the firm’s national network.
