The grand dame of Australian financial services is making a comeback
MLC is showing signs of life – with an earnings upgrade – and is the face of Insignia’s fightback story. If it wins, the company and its 53,000 shareholders win too.
Former AMP and Sunsuper executive Scott Hartley took on one of the ASX’s tougher turnaround assignments on March 1 – getting retail super and advice business Insignia Financial to work for both customers and shareholders.
And he has some early runs on the board. Hartley restructured the business around four divisions – asset management, superannuation, wrap platform and advice – to fix what he called a “fuzzy” accountability structure, and started putting his management team in place. A couple more senior hires are imminent.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
