MLC Wealth poaches risk chief from QIC

MLC Wealth has appointed David Clarke as their new chief risk officer.

Clarke comes from QIC where he has been the chief risk officer for the last seven years. Before joining QIC in 2007, he spent several years with Macquarie Bank's financial services group.

Clarke replaces Mark Baxter, who left MLC Wealth in April.

MLC Wealth chief Geoff Lloyd said Clarke will join the organisation's leadership team. "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."

Lloyd said that MLC has had good momentum in transforming their business while keeping focus on meeting client needs. Clarke's appointment will help the organisation address the risks that have been amplified by the coronavirus pandemic. "David has a reputation for developing great teams and industry leading approaches to how risks are manage, encompassing all aspects of operational, strategic, emerging and external risk factors."

Clarke will join MLC in October.

QIC CEO Damien Frawley thanked Clarke for his contributions to the business over the last 13 years. "David's contribution to QIC has been significant and on behalf of the entire team I would like to acknowledge the quantum of work he has done for our business in serving the investment interests of our clients."

QIC general counsel Michelle Thomsen will serve as interim chief risk officer while the fund searches for a successor.