Geoff Lloyd appointed CEO of MLC

National Australia Bank (NAB) has announced the appointment of Geoff Lloyd as CEO of MLC, effective September 2018.

His appointment follows NAB's announcement in May that it will exit its advice, platform & superannuation, and asset management businesses, currently operating under MLC and other brands, "to allow a focus on a simpler wealth offering through nabtrade and JBWere."

Lloyd, who will report directly to NAB CEO, Andrew Thorburn, was previously the CEO and managing director of Perpetual.

Commenting on his appointment, Thorburn said: "Geoff is a standout leader and the right person to lead through the transaction, establish a new standalone business and build it for the future."

He added that Lloyd has a proven track record of delivery, "having successfully driven a major turnaround program at Perpetual through a period of significant structural change."

Lloyd has over 20 years' experience in the financial services industry. He first joined Perpetual in August 2010 as group executive of Private Wealth before being appointed managing director and chief executive officer in February 2012, a role he held until June 2018. Prior to this, he served as general manager, advice and private banking at BT Financial Group.

Lloyd said of his new appointment: "This is an exciting challenge and opportunity to lead a business that is well positioned to grow and continue delivering for clients in the decades ahead."