NAB seperates operations
The National Australia Bank will separate its insurance and investment operations from banking in a restructure, following the acquisition of MLC from Lend Lease
The National Australia Bank will separate its insurance and investment operations from banking in a restructure, following the acquisition of MLC from Lend Lease.
Lend Lease announced the conditions for the acquisition had been met and the sale will be completed tomorrow.
The National said its new structure will separate its banking businesses from its major investment and insurance operations.
The MLC financial services businesses will be owned by the National's life insur-ance subsidiary, National Australia Financial Management (NAFM), while the ex-isting service and infrastructure entities of NAFM and MLC will be combined un-der the direct ownership of the National.
Recommended for you
Wealth Data has revealed the top five licensees for financial adviser growth over the September quarter, with more than 150 advisers joining in Q3 overall.
Former Sydney financial adviser, David Valvo, has pled guilty in court to a charge of dishonest conduct.
Building a network of mentors and coaches with varied skill sets could help women achieve their career goals, according to an FBAA executive.
AMP has reported its Q3 results and provided a progress update on the divestment of its advice division to Entireti.