Banking giant NAB has appointed Matt Lawrance CEO of its MLC Super subsidiary, a role he will commence in May 2017.

Mr Lawrence will run NAB’s superannuation and investment businesses and will represent NAB on the Financial Services Council.

Joining NAB in 2005,Mr Lawrance has been acting in the role of NAB’s Chief Technology and Operations Officer for the past seven months. Previously, he ran wealth and transformation operations and was part of a major group restructure in 2016.

NAB CEO, Andrew Thorburn, said: “Matt is an experienced banking and wealth executive and an outstanding leader…I am pleased to appoint Matt to this role and know that his customer focus and deep experience leading complex businesses set him up well to lead MLC Super.”

Mr Lawrance said he was optimistic about the future of MLC Super in helping Australians plan for retirement.

“We know that too many Australians don’t understand their super and don’t feel confident that they can reach their financial goals,” Mr Lawrance said.

“I believe that the role of Australia’s largest retail super fund goes beyond just managing investments for Australians. We also have an important role to help customers to get the right help, guidance and advice so they can plan and reach their financial goals,” he said.

Patrick Wright, currently global chief operations and technology officer of Barclaycard in the US, is to succeed Mr Lawrance as chief technology and operations officer, effective May 2017.