MLC Wealth names chair

Robert Coombe has been named the non-executive chair of National Wealth Management Services Limited, the head company of MLC Wealth.

Coombe, previously the CEO of BT Financial and group executive for Westpac's retail banking business, presently holds chair positions with Generation Development Group, Tibra Capital, and is a director for CIMB group, an ASEAN universal bank.

NAB chair Philip Chronican said the appointment of a chair and independent directors was a first step toward establishing MLC as a standalone business.

"Rob has the right leadership skills and experience for MLC as it separates from NAB at a critical time for the wealth management sector and its clients," said Chronican.

"This is a critical time for MLC and the members, clients, advisers and employers it serves," said Coombe. "It's a privilege to be invited to participate in the transformation and exciting next chapter of this highly regarded Australian business."

Current NWMSL chair Geoff Lloyd will remain on the board and in his role as CEO and managing director of MLC Wealth.