MLC Life Insurance CEO resigns

MLC Life Insurance's first CEO and managing director, David Hackett, will leave the organisation.

In a statement, the company and board said they appreciated Hacket's commitment and contributions to MLC Life Insurance, including its establishment as a standalone life insurer while separating from NAB and joining the Nippon Life Insurance Group in 2016.

Hackett has significant experience in finance, having served as CFO for wholesale banking at NAB. Before that, he was CFO of Aozora Bank Ltd in Japan where he was involved in the private equity-sponsored effort to re-list the bank in 2006. When Hackett returned to Australia after 10 years in Japan, he established a consultancy to a private equity investor seeking investment opportunities in Australia.

MLC says they are commencing a global search for a replacement, and have appointed chief of group and retail partners, Sean McCormack, as acting CEO and managing director.