Newly-formed major life insurer Acenda has named four Independent Non-Executive Directors on Thursday (19 June), namely, Catherine Dubé, David Stephen, Melissa Babbage, and Rosheen Garnon.
The announcement comes ahead of the finalisation of the merger revealed in December 2024, between MLC Life and Resolution Life Australasia, creating the Acenda Group.
Bannering the appointments are Dubé and Stephen, who are both Non-Executive Directors of the MLC Limited Board.
Dubé brings over 30 years of experience in the financial services sector, holding senior roles at Deloitte, AIG, Sacre Coeur, Challenger Retirement and Investment Services, and ACT Public Trustee and Guardian Investment. She concurrently serves as Non-Executive Director for the Group Audit and Risk Committees at Guild Group and the Audit Committee at Assetinsure.
Meanwhile, Stephen has more than 35 years of industry experience, with a focus on risk management and compliance. His background includes directorial, chief, and advisor positions at Credit Suisse, Lehman Brothers, ANZ Bank, Deutsche Bank, Royal Bank of Scotland, Westpac Group, and PwC Australia. Prior to MLC, Stephen was a board member of the International Financial Risk Institute and the Clean Energy Finance Corporation.
Joining Dubé and Stephen are Babbage and Garnon, who are both from Resolution Life.
Babbage holds extensive experience in international and domestic markets, having worked at companies such as QSuper, Mercer Investments, and St. Vincent’s Health Australia. She currently heads the Audit Committee as a Non-Executive Director at Swiss Re, where she has spent over 12 years working across Asia, the Americas, and Australia.
Alongside Babbage, Garnon is part of the Resolution Life Australia Board as the People and Remuneration Committee chair. Her background includes board member roles at Venues NSW, the Australia Council Board of Creative, and The Smith Family. Banking her expertise in accountancy and taxation at KPMG Australia, Garnon then served as the Chair of the Board of Taxation and advised the Australian Treasurer.
Incoming Acenda Group chair Craig Dunn said: “I welcome the appointments of Melissa, Rosheen, Catherine, and David as future Directors of the Acenda Group Board. Their combined experience in financial services will be instrumental as we guide the Acenda Group into a new era.”
“I look forward to working with them as we develop and enhance our products and services to meet the needs of millions of customers across Australia and New Zealand,” Dunn added.
The key appointments followed Nippon Life’s purchase of Resolution Life in December 2024 for US$8.2bn, which would make the said firm a wholly owned subsidiary. Japan’s largest life insurer is expected to have the deal approved by regulators in the second half of 2025.
According to the announcement, Jacqueline Korhonen will also continue as an Independent Director of the MLC Board, while Rodney Cook will serve as a director in Resolution Life.
