NAB FP GM joins MLC Wealth leadership team

MLC Wealth has announced the internal appointment of Tim Steele to the firm's executive leadership team as group executive, retirement & investment solutions, effective September 2019.

Most recently, Steele has held the role of general manager, NAB Financial Planning and NAB Direct Advice - MLC Wealth's Licensee for employed financial advisers. Prior to this, Steele held numerous senior roles in professional services, wealth management and investment advisory in the United States and Australia.

He is joined on the MLC Wealth executive leadership team by fellow new internal appointee, Garry Mulcahy, who assumes the role of group executive, asset management

Chief executive officer of MLC Wealth, Geoff Lloyd said the appointments build on the business' momentum as it moves towards separation from the NAB Group.

"When I announced our new strategic intent and operating model in March, I committed to putting a strong and experienced leadership team in place that would lead and drive the transformation and growth of our four business pillars of Advice, Platforms, Asset Management, Retirement and Investment Solutions."

Lloyd said that Mulcahy and Steele's appointments are the result of an extensive internal and external search and follow three other executive appointments made earlier this year: Mark Baxter, as chief risk officer; Kylie Smith, as chief client digital & marketing officer; and Shenaz Waples, as chief human resources officer.

"Both Tim and Garry bring highly regarded leadership and market expertise to the executive team, and I'm thrilled to have been able to appoint two leaders from our strong pool of internal talent, as well as being able to attract high calibre external talent with the other recent appointments, Mark, Kylie and Shenaz."

Lloyd confirmed five positions remain on the ten-strong MLC Wealth leadership team, with further appointment announcements expected over the coming months.