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Mr Morgan has over 30 years of experience in the industry.
Having joined MLC Wealth in 2019 as chief corporate services officer, he was named acting managing director in November last year.
Mr Morgan has also previously held the positions of chief financial officer of wealth management at the Commonwealth Bank of Australia, as well as having held leadership positions at Perpetual Limited, Lend Lease Corporation and NAB.
Between 2005-2008, Mr Morgan was head of international mortgage at US-based mortgage company Radian.
FSC chairman David Bryant said Mr Morgan was a highly accomplished business leader, adding that his “strategic thinking and strong leadership” in financial services would be a welcome addition to the FSC board.
“Andrew has significant experience across a range of financial areas, including wealth management, retail banking, insurance and property, all relevant areas for our industry,” Mr Bryant said.
Mr Morgan also commented on his appointment, saying: “Having worked in various sectors of the financial services sector, I am looking forward to using this experience to make a contribution to the FSC board and assisting the council as it navigates a changing industry.”
In November last year, FSC announced that it had appointed David Bryant, CEO of Mercer Australia and Pacific Zone Leader, as chairman of the board. He replaced Geoff Lloyd, CEO of MLC Wealth, who stood down due to his resignation from MLC Wealth.
In October 2020, the council announced that AMP Australia’s acting CEO, Blair Vernon, would join its board as a director.
[Related: CBA’s NewCo CEO appointed to FSC board]