Changes follow National Australia Bank’s (NAB) recent announcement that it would form a new wealth business, bringing together MLC, PIW and nabInvest.
Nunn joins MLC & NAB Wealth from Commonwealth Bank of Australia where he was recently head of Commonwealth Private Bank.
In his new job, Nunn will be responsible for the NAB Financial Planning, MLC advice solutions, MLC sales and MLC marketing businesses.
The current heads of those businesses would continue to run their existing portfolios, a company statement said.
“The delivery of quality financial advice and our commitment to build trust and transparency in the financial advice industry will continue to be a key differentiator for our business,” MLC & NAB Wealth group executive Steve Tucker said.
“Richard’s diverse wealth management experience will be an asset as we continue on this journey.”
The rest of the executive committee, appointed last month, includes NAB’s former private and institutional wealth business executive general manager, Andrew Hagger, who will now take responsibility for MLC’s insurance business; current nabInvest chief executive Garry Mulcahy, who will now take accountability for MLC’s investment management division and its manager-of-managers investment capability; and MLC’s former investment management division general manager, Michael Clancy, who will run MLC &NAB Wealth’s investment platforms.
The committee also includes Angela Mentis, who will continue to run NAB’s Private Wealth business and take on accountability for the recently-launched NAB Family Office; Plum Financial Services managing director Paul Carter, who will lead a newly-formed business that will house all enterprise-wide functions; and Scott Hartley, who will take up Carter’s former position.
