Briefs: PayPal Australia's new boss, NAB breaking up over MLC Life

Former American Express and AMP executive Libby Roy has been appointed vice president and managing director of PayPal Australia. She takes over from Jeff Clementz, who is moving to a compliance role with PayPal in the US after three years in Australia. Roy was director of corporate super at AMP and general manager of global travel business for Japan and Asia Pacific at Amex.
NAB is split from within over plans for its life insurance business, according to sources. Dataroom reported in February that NAB had dropped its plan to run a sales process for the operations within its MLC division after earlier hiring investment bank JP Morgan to explore options. But reports later circulated elsewhere that a sales process was still to proceed. The Australian Business Review reports JP Morgan was earlier understood to have downed pens with respect to its work on MLC. It has since emerged that divided camps within the bank are to blame for the mixed messages emerging from NAB. The understanding is that chief financial officer Craig Drummond and his supporters want to offload the group's life insurance operations, but others have maintained that they would not be placed up for sale because of regulatory problems likely to emerge as a result of a divestment.