MLC Life Insurance has appointed Michael Downey as new general manager of retail distribution partnerships, replacing Russell Hannah.
Downey would report to Michael Rogers, chief life insurance officer, and would be responsible for the strategic and operational leadership and direction of the retail distribution partnerships function.
Downey would join on 22 March, while Hannah would leave the role officially on 26 March.
Downey had over 30 years’ experience in financial services, which included advice and licensee strategy, strategic product development, distribution strategy and management.
He held senior executive roles in advice partnerships, wealth distribution, retail insurance, retail investments and group insurance.
Most recently, he was the general manager of advice partnerships with responsibility for leading the MLC advice licensees.
Prior to that, he led the MLC wealth strategic accounts, IFA and self-employed distribution teams.
He had also held executive management roles at Tower Australia (TAL), CommInsure and AXA Australia.