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MLC ownership update

Agreement to sell MLC to wealth manager IOOF

On 31 August 2020, NAB announced an agreement to sell MLC to wealth manager, IOOF. Together, MLC and IOOF would form Australia’s leading wealth manager looking after more than 2.4 million Australians. The sale is subject to regulatory approval and is expected to complete between April and June 2021. Until this time, MLC and IOOF will continue to operate as two separate companies.

Throughout the sale and beyond, we’ll continue to provide our investments, superannuation and financial advice services to our corporate, institutional and retail clients and we'll always put out clients at the heart of everything we do.

An important part of that is keeping everyone informed about progress on the sale, so you can see any updates and major announcements below.