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Both businesses have more in common than they do differences, CEO Renato Mota told Professional Planner shortly after IOOF announced it had completed the MLC deal Monday. 84pc of the 'target set' of advisers will transfer to IOOF licensees on day one. ....
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AMP Australia CEO Scott Hartley (right) and incoming managing director of advice, Matt Lawler AMP Australia boss Scott Hartley has hired ex-Yellow Brick Road and Wealth Market chief executive Matt Lawler to head up advice as part of a broader refresh of the group’s executive leadership team. Speaking to Professional Planner, Hartley describes the “energy and passion” Lawler has for the advice industry. “Matt’s an experienced leader with great vision and commercial acumen, and the ability to build the alignment both in strategy and vision internally and externally.” Lawler is well known in advice circles for his executive roles at MLC and then NAB, together with his work with major broking firms. He comes to the role from Wealth Market, where he has been CEO for over three years. ....
When former head of Paragem Nathan Jacobson started having conversations with advice networks to find a merger partner, it wasn’t in his plan to become the MD of an ASX listed company. “During the process with Easton I was asked to lead the company, which was a good surprise,” Jacobson says during an interview with Professional Planner. Platform provider HUB24’s deal in October last year involved selling its wholly-owned licensee business Paragem to the ASX-listed Easton Investments for $4 million as well as completing a proportional takeover of the company for $14 million. The deal coincided with HUB24’s acquisition of Xplore Wealth and Ord Minnett’s non-custody platform. ....
IOOF CEO Renato Mota IOOF has ticked the final regulatory box in its bid to purchase the MLC network from NAB after the prudential regulator announced its approval of IOOF’s application to hold a controlling stake in NULIS Nominees, the superannuation trustee for MLC’s superannuation business. On Thursday APRA released a short statement confirming the approval, which was followed five minutes later by an IOOF update approved by its clearly relieved CEO, Renato Mota. “APRA’s approval satisfies the final regulatory condition precedent necessary to complete the acquisition of MLC,” Mota stated. “Central to our engagement with APRA was demonstrating how IOOF’s strategic intent will deliver improved member outcomes.” ....