MLC Life Insurance has appointed Michael Downey as its new General Manager, Retail Distribution Partnerships, responsible for the strategic and operational leadership and direction of the Retail Distribution Partnerships function.
A statement from the insurer says that Downey will report directly to Chief Life Insurance Officer, Michael Rogers, and that he replaces outgoing GM, Russell Hannah, who Riskinfo understands has accepted a senior role elsewhere, to commence in June.
Downey has more than 30 years’ experience in financial services, including advice and licensee strategy, strategic product development, distribution strategy and management.
Most recently, he was the General Manager of Advice Partnerships at NAB’s MLC Australia where he had responsibility for leading the MLC Advice Licensees. Prior to that he led the MLC Wealth Strategic Accounts, IFA and Self-Employed Distribution teams, and has also held executive management roles at Tower Australia, CommInsure and AXA Australia.
Rogers says he is delighted that Downey has joined as MLC Life enters the final phase of its technology upgrade. “His deep experience and leadership skills will be central to delivering our retail distribution strategy and management.”
Downey will start with MLC Life Insurance on 22 March 2021 while Hannah will depart on 26 March 2021.