Hackett departs MLC Life
MLC Life Insurance chief executive, David Hackett is to leave the company.
The company announced today that Hackett had decided to step down and his leave his roles as chief executive and managing director and that his decision had been supported by the board.
It said the search had begun for a new CEO but, until then, chief of group and retail partners, Sean McCormack would be acting in the role.
The formal statement said: “The Board appreciates David’s strong commitment and contribution to MLC Life Insurance. This has included leading, as the first CEO, its establishment as a standalone life insurer whilst separating from the National Australia Bank and joining the Nippon Life Insurance Group.
“This has been a complex and difficult task and has required enormous personal time and energy from David. This task has been made even more complex by the significant commercial challenges facing the Australian life insurance sector along with major regulatory changes. The Board wishes David all the very best for his future.”
Recommended for you
Apostle Funds Management has appointed the newly created position of director, head of wholesale as the firm expands its Australian footprint in the wholesale sector.
Recruitment manager Robert Half has shared the most in-demand roles in financial services that firms are finding difficult to fill, driven by ASIC’s growing focus on risk and compliance.
ASIC chief executive, Warren Day, is among senior executives to depart the corporate regulator amid changes to its leadership team.
Iress has completed the sale of its platform business, bringing $4.1 billion in funds under administration over to Praemium.
