MLC has appointed Dean Thomas as the general manager of its MasterKey investment platform, where he will be responsible for managing and developing the suite of investment, super and pension products across the platform.
Thomas has more than 20 years' industry experience, primarily for BT and in product management and development for St George Wealth Management. He is admitted as a Solicitor of the Supreme Court of NSW and is a recipient of the Investment and Financial Services Association's Industry Excellence Award for lifetime contribution to the industry.
Thomas will step into the role in early February.
"I am delighted to welcome Dean to the team as we continue to grow one of Australia's leading platform and service offerings," said Michael Clancy, EGM investment platforms MLC & NAB Wealth.
"We will continue to invest in the development of MasterKey and further improve our service to advisers and their clients. The appointment of such a high-calibre leader to this role reflects this ongoing commitment," he said.
Large superannuation accounts may need to find funds outside their accounts or take the extreme step of selling non-liquid assets under the proposed $3 million super tax legislation, according to new analysis from ANU.
Economists have been left scrambling to recalibrate after the Reserve Bank wrong-footed markets on Tuesday, holding the cash rate steady despite widespread expectations of a cut.
A new Roy Morgan report has found retail super funds had the largest increase in customer satisfaction in the last year, but its record-high rating still lags other super categories.
In a sharp rebuke to market expectations, the Reserve Bank held the cash rate steady at 3.85 per cent on Tuesday, defying near-unanimous forecasts of a cut and signalling a more cautious approach to further easing.