Netwealth welcomes new distribution head

Netwealth has appointed a former MLC director as its new head of distribution.

The ASX-listed superannuation and investment solution provider has confirmed the appointment of Damian Holland to lead its distribution efforts earlier this month.

The position was left vacant in July when Nick Mitchell resigned citing personal reasons.

Holland joined from MLC where he was director, product enablement - asset management. Prior to this he was head of platform strategy and implementation at NAB Wealth.

He brings more than 20 years' financial services experience, having also previously held roles with Macquarie and Vanguard.

He is a former head of managed account solutions for Ibbotson Associates and served as managing director, head of distribution at Ralton Asset Management between 2007 and 2011.

Earlier this month, Netwealth was recognised by Plan for Life Actuaries and Researchers as growing faster than some of its more established competitors.

In percentage terms, Netwealth experienced the most growth in funds under management (29.9%), followed by Macquarie (18.1%) and BT (14.4%).

Much more modest growth in masterfunds was reported at AMP (2.4%), National Australia Bank/ MLC (1.6%) and Commonwealth/Colonial First State (5.3%).

Read more: NetwealthMLCMacquarieDamian HollandBTIbbotson AssociatesNAB WealthNational Australia BankNick MitchellRalton Asset ManagementVanguard
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