Ex-banking exec appointed to MLC Life Board

Yasmine Raso

Senior Journalist, Financial Newswire

30 January 2023

Seasoned financial services executive, David Stephen, has been appointed to the MLC Limited Board by MLC Life Insurance as an Independent Non-Executive Director and Chair of the Board Risk Committee, replacing the outgoing Andy Cornish.

Stephen has spent over 35 years in the industry, enjoying time as Group Chief Risk Officer and as a Member of the Executive teams of Westpac, Royal Bank of Scotland and ANZ Bank.

“I am pleased to welcome David to the MLC Limited Board,” MLC Limited Board Chairman, Peter Grey, said.

“He is one of the most experienced risk professionals in financial services and this experience will be a great asset for us as we execute the next phase of our business strategy.

“I also want to thank Andy for his considerable service to the Board since the acquisition of MLC Life Insurance by Nippon Life. He has played a critical role in the transformation of MLC Life Insurance to a standalone life insurer and leaves us well placed for future success.”

Stephen brings expertise from his time at major global financial services organisations in strategy, leadership, governance, M&A, whole-of-business transformation and remediation.

“I am delighted to join MLC Life Insurance as one of Australia’s most prestigious and leading financial services institutions,” Stephen said, commenting on his appointment.

“I look forward to contributing my financial services and risk management experience to the Board and the organisation as MLC Life Insurance seeks to achieve its ambition of becoming Australia’s leading and most trusted life insurer.”