Allianz Retire+ welcomes new members to Retirement Advisory Board

19 June 2023

Allianz Retire+ welcomes new members to Retirement Advisory Board

Former CEO of MLC and Perpetual, Geoff Lloyd
Former CEO of UniSuper, Kevin O’Sullivan
Former CEO of Fund Executives Association Ltd (FEAL), Joanna Davison

Sydney, Australia (19 June 2023) Allianz Retire+ today announces three new appointments to its Retirement Advisory Board, industry stalwart Geoff Lloyd, former UniSuper CEO Kevin O’Sullivan and leading industry superannuation specialist Joanna Davison.

The Advisory Board was established in 2021 to bring together respected experts from across superannuation, aged care and retirement to help Allianz Retire+ in driving innovation within the retirement sector.

The new appointees will join existing members leading superannuation expert, David Coogan and Allianz Retire+ Director, Sally Evans and will next meet in July 2023. Nicolette Rubinsztein will also step down following the completion of her two-year cycle as an Advisory Board member.

Allianz Australia Life Insurance CEO, Adrian Stewart said, “We welcome the depth of industry leadership and insights that Geoff, Kevin and Joanna will bring and want to thank Nicolette Rubinsztein for her immense contribution over her tenure.

We are committed to solving the issues facing retirees, superfunds and advisers. The purpose of establishing the Advisory Board was to engage with some of the most respected industry leaders and listen to their perspective of the challenges facing retirees and the industry.

With the Retirement Income Covenant taking effect in July 2022 and regulators calling for Life Companies to step-up to the plate, the time is now for a global firm like Allianz to take the lead in delivering the next generation of retirement income solutions to Australians. The Advisory Board will provide valuable insights to Allianz in order to deliver on this mission and ultimately create greater certainty for Australian retirees.”

Speaking on the new position Mr Lloyd said, “Having served as the CEO of MLC, one of the most rewarding experiences was assisting more than a million MLC Wealth clients in preparing for and enjoying their retirement which is why aligning with a business solely focused on retirement was extremely attractive. By leveraging the scale of both Allianz life insurance and PIMCO, Allianz Retire+ offers a unique blend of global resources with deep local experience. I look forward to contributing my expertise to Allianz Retire+ and helping more Australians achieve financial security in their retirement.”

Echoing Mr Lloyd’s sentiments Mr Sullivan said, “It’s a time of great structural shift for the superannuation sector following the implementation of the Retirement Income Covenant (RIC). We know that retirement is a top agenda item for government. The RIC has ensured that super funds focus on retirement solutions, but it will require industry collaboration to implement the changes needed. In my view, life insurers have an important role in guaranteeing income for life, to deliver certainty for Australians, many of whom are too afraid to spend their hard-earned money. I’m pleased to be able to share my learnings from leading one of Australia’s most awarded industry funds to identify how retirement income specialists like Allianz Retire+ can work with super funds to deliver valuable solutions for retirees.”

Ms Davison said, “The universal problem for Australians preparing for and during retirement is the fear of running out of money. I am deeply committed to helping Australians achieve a comfortable retirement, which is why I am pleased to contribute my knowledge and expertise in supporting the development of innovative solutions that tackle longevity risk and enable more Australians to enjoy a dignified retirement.”

The Board is Chaired by Allianz Retire+, Head of Institutional Solutions, Fintan Thornton who added, “These new appointments will bring great depth of expertise to the Board which we can then bring back to the business to support our development of next generation solutions.”

Allianz Group is a global leader in the provision of retirement solutions. With over 30 years’ experience in the US retirement market, the group has a presence in over 70 countries and serves 126 million retail and corporate clients. Allianz has been offering customer-centric solutions for Australians since 1914.

-ENDS-

Media contact:

Allianz Retire+

Amy Boyce

P: 0449 553 990

E: Media@allianzretireplus.com.au

Biographies

Geoff Lloyd

Geoff is an experienced leader in the Financial Services industry. With over thirty years working across the industry, Geoff has a proven track record in transforming and sustainably growing businesses.

As the former CEO of MLC reporting to the NAB CEO and Board. Geoff established an experienced executive team to successfully modernise and separate MLC from NAB. NAB announced the successful sale of MLC to IOOF in September 2020.Geoff brings an extensive understanding of the industry with an outstanding transformation track record across three major financial services businesses. With over thirty years’ experience in industry, he has demonstrated how to grow and diversify revenues, whilst simplifying business models and increasing client NPS and staff engagement. Part of this project was helping MLC Wealth’s over one million clients to plan for and live well in retirement through launching a new platform, super and asset management products and capabilities, digital tools and services.

Prior to MLC, Geoff was CEO of Perpetual Limited, where the leadership team successfully delivered Perpetual’s transformation strategy designed to simplify, refocus and grow Perpetual AM, Corp Trust & Private Wealth. Geoff has also held senior roles at St George Bank reporting to the CEO, including Group Exec for Wealth. At BT he held positions as General Manager Advice and Private Banking, EVP BT Portfolio Services and Chief Legal Counsel. Geoff Chaired the Financial Services Council between 2016 and 2020 and was a signatory to the Banking and Finance Oath. Geoff is also a Non-Executive Director of The Fathering Project and Chairs the UTS Law Advisory Board and is an inaugural board member of the UTS Foundation.

Kevin O’Sullivan

With over 40 years’ experience in the superannuation and actuarial sectors, Kevin is highly regarded throughout the Australian financial services industry as an expert in superannuation fund design and management.

In September 2021, after over eight years at the helm, Kevin stepped down from the role of Chief Executive Officer of UniSuper, one of Australia’s largest superannuation funds. As CEO, Kevin was responsible for developing, leading and implementing UniSuper’s corporate strategy and culture and was accountable for the overall services and operational management of UniSuper. During his tenure as CEO, UniSuper collected numerous industry awards, including several super fund of the year accolades, and doubled funds under management, from $52 Billion in July 2013 to over $100 Billion at his exit. He was named the FEAL Fund Executive of the Year in 2020.

After finishing at UniSuper, Kevin has continued to apply his expertise through two bodies whose aims are to enhance retirement outcomes for Australians. Since early 2020, Kevin has been a member of the Advisory Board of the Conexus Institute, an organisation that applies a “research-for-impact” model to produce high quality research which is used to showcase the benefits of change. It aims to join the dots between industry, academia, regulators and policymakers. In March 2023, Kevin joined the Advisory Board of Allianz Retire+ to provide guidance regarding the organisation’s innovative retirement products. A qualified actuary, between December 1990 and April 2013, at Russell Investments and Towers Perrin, Kevin consulted many large employers and superannuation funds across a wide range of issues. Prior to moving to Australia in 1990, Kevin was an actuary for Canada Life Assurance Company in Toronto for eight years. Kevin has a Bachelor of Commerce degree and is a Fellow of the Institute of Actuaries of Australia and a Fellow of the Society of Actuaries.

Joanna Davison

Joanna is an investment professional who has worked in the investment and superannuation industry for over 30 years. With experience initially managing assets in London and then Sydney, her career has progressed to senior leadership roles providing strategic input to the development of a business.

Joanna was CEO of FEAL from late 2013 until late 2022. In this role she was instrumental in growing FEAL’s role of supporting the professional development of superannuation fund executives.

Joanna was formerly Regional Managing Director for Australia and New Zealand of Colonial First State Global Asset Management and earlier Director of Sales & Client Service at Russell.

Joanna is Chair of the Aminata Maternal Foundation and a member of the Investment Committee member of CJQ Private. With a detailed knowledge of the superannuation industry and an extensive network she has a passion for helping others achieve dignity in retirement.

Joanna has a Master of Arts and Theology from Cambridge University, a Masters in organisational leadership from Melbourne Business School, and a diploma of company directors course from Australian Institute of Company Directors.

About Allianz Retire+

Allianz Retire+ delivers the next generation of retirement income solutions to the Australian market. Our financial product solutions are designed to simplify the complex financial and emotional challenges that can confront people who are heading into retirement. Allianz Retire+ is a world-first Australian venture combining the scale and expertise of international insurance provider Allianz and global investment expert PIMCO.

Disclaimer

This material is issued by Allianz Australia Life Insurance Limited, ABN 27 076 033 782, AFSL 296559. Allianz Retire+ is a registered business name of Allianz Australia Life Insurance Limited. This material has been prepared by Allianz Retire+ for general information purposes only. It is not comprehensive or intended to give financial product advice. Any general advice provided in this material does not take into account your objectives, financial situation or needs. Before acting on anything contained in this material, you should speak to your financial adviser and consider the appropriateness of the information received, having regard to your objectives, financial situation or needs. No person should rely on the content of this material or act on the basis of anything stated herein. Allianz Retire+ and its related entities, agents or employees do not accept any liability for any loss arising whether directly or indirectly from any use of this material. PIMCO provides investment management and other support services to Allianz Retire+ but is not responsible for the performance of any Allianz Retire+ product, or any other product or service promoted or supplied by Allianz. Use of the POWERED BY PIMCO trademark, or any other use of the PIMCO name, is not a recommendation of any particular security, strategy or investment product.