Mr Clarke joins MLC from Queensland Investment Corporation (QIC) where he has been Chief Risk Officer for the past seven years. He joined QIC in 2007 following four years with Macquarie Bank’s Financial Services Group. Earlier in his career he worked with Linklaters in London and Tokyo as well as Clayton Utz in Sydney.

MLC Wealth Chief Executive Officer Geoff Lloyd said Mr Clarke will join a newly formed and highly experienced MLC Executive Leadership Team which has created good early momentum in transforming the business while remaining focused on meeting client needs which in many cases have intensified during the coronavirus pandemic.

“While risk management is everyone’s business at MLC, we need strong and experienced leadership to ensure our enterprise risk management framework and culture is robust, fit for purpose, and enables us to meet the expectations held by all stakeholders including clients, regulators and our people.

“This requires modern leadership and contemporary risk management. David has a reputation for developing great teams and industry leading approaches to how risks are managed, encompassing all aspects of operational, strategic, emerging and external risk factors.

“We’re very much looking forward to David’s leadership contribution,” Mr Lloyd said.

Mr Clarke will commence at MLC in early October.

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Discussing the appointment, AUB Group Chair David Clarke said, “We are delighted to have secured someone of Mike’s calibre, with his strong experience in diversified growth and distributed business models. Mike’s understanding of the full suite of insurance services aligns well with the Group’s successful ‘total risk solutions’ strategy, as well as our intention to be the leading provider of risk management, advice and solutions to clients. The Board is confident his skills will enable the Group to maintain strategic momentum, and will help orient the Group to the future needs of clients while continuing to deliver shareholder outcomes.

“We thank outgoing CEO Mark Searles not only for his enormous contribution to AUB Group, but also for his continued support in this succession process, which has enabled us to conduct a thorough search process and plan for a smooth leadership transition.”

Previously group chief executive of travel insurer Cover-More Group, Mr Emmett has held executive positions at QBE, EY, Morse, IBM, Accenture and PwC.

Outgoing CEO and Managing Director Mark Searles, who announced in August 2018 his intention to step down with a view to developing a non-executive director career, will move to an advisory role until October 2019.

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