Original article by Cliona O’Dowd
The Australian – Page: 17 & 21 : 18-Jul-18

National Australia Bank has advised that Geoff Lloyd will become CEO of its MLC wealth business on 1 September. Lloyd recently stepped down as CEO of Perpetual after six years, a period which saw strong growth in its profits and share price. NAB plans to divest MLC via a sharemarket float or trade sale, and Lloyd says the opportunity to grow the business as a stand-alone wealth manager was a key reason for his decision to take on the role. The spin-off will include NAB’s superannuation and financial planning businesses.

CORPORATES
NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, MLC LIMITED, PERPETUAL LIMITED – ASX PPT, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WESTPAC BANKING CORPORATION – ASX WBC, IOOF HOLDINGS LIMITED – ASX IFL, JBWERE LIMITED, NABTRADE, AMP LIMITED – ASX AMP, LEND LEASE GROUP LIMITED – ASX LLC, NIPPON LIFE INSURANCE COMPANY LIMITED, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION