by David Chaplin
Jeff Page, TNP managing director, said McMillan would play a "key role" in formulating the group's broad strategy as well as working closely with its alliance firms and helping advisers develop their businesses.
"It's an absolute delight to have Dave as part of the team," Page said.
McMillan told Good Returns that TNP offered him an opportunity to exercise his skills in developing businesses while the PAA was moving into a "consolidation" phase.
"People have different skills - mine are more about development rather than consolidation," he said.
The PAA revealed yesterday that McMillan, the industry body's first full-time paid CEO, would step down at the end of May after three years in the job. McMillan helped grow the PAA membership from about 600 when he took on the job in April 2006, to its current level of 800 full members.
"I hope to replicate the PAA growth story at TNP," he said. "A big attraction for me in the job is that, like with the PAA when I started, most of the components are there and I'd like to bolt them together in a more meaningful way for the users and market it."
Peter Leitch, PAA chair, said the board had hired a recruitment agency to search for McMillan's successor.
"We're not in a mad hurry [to replace McMillan]," Leitch said. "We can wait for the right candidate with the right attributes."
He said McMillan had left the PAA in "great heart".
"The full-time CEO position has worked well and the board is extremely happy about where the organisation is positioned," Leitch said.
McMillan takes up his role with TNP in June.
According to Page, the group now boasts some 150 members.
He said TNP had also released its shared equity plan for advisers. Under the plan every TNP member would qualify for shares in the firm based on a formula where $1,000 of net annual premium income would equal five shares.
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