NAB chief executive Andrew Thorburn said the changes would bring greater focus and momentum to NAB’s commitment to being a simpler, more customer focused bank.
“We have a clear plan to transform NAB and create a sustainable business that puts customers first – and we are executing on that plan. Now is the right time to make these changes as we work to create a better bank and earn the trust of our customers,” Mr Thorburn said.
Customer products and services becomes customer experience – a division focused on building advocacy and loyalty through the design and delivery of a leading banking experience. It includes customer experience, marketing, digital, products, NAB Labs and NAB Ventures.
Rachel Slade will lead this division in the new role of chief customer experience officer. Ms Slade has been executive general manager, deposits and transaction services since joining NAB in January 2017 after more than 10 years in senior positions at Westpac.
Former NSW premier Mike Baird has been appointed chief customer officer, consumer banking. He will lead NAB’s retail banking business, including more than 700 branches, 7000 bankers, broker partnerships, direct banking and digital bank UBank. He will also take a lead in the setting of NAB’s reputation agenda. Mr Baird has been chief customer officer, corporate and institutional banking since April 2017.
David Gall moves to the role of chief customer officer, corporate and institutional banking. Mr Gall has been NAB’s chief risk officer and part of the NAB executive leadership team since August 2014, having spent 29 years in corporate, commercial and retail banking.
Shaun Dooley joins the NAB executive leadership team as chief risk officer. Mr Dooley is currently group treasurer and has been with NAB since 1992, serving in various senior executive roles in risk, corporate and institutional banking.
Andrew Hagger will leave NAB after 10 years, including the past eight years as a member of the executive leadership team. In that time he has led the consumer banking and wealth businesses; MLC as chief executive; and the corporate affairs, marketing and people divisions.
“Rachel, Mike, David and Shaun are outstanding leaders who think customers first and bring terrific authenticity and values to NAB every day. These appointments also demonstrate the depth of talent we have inside NAB and I am particularly delighted to promote Rachel and Shaun to the executive leadership team,” Mr Thorburn said.
“With the recent bringing together of the wealth businesses under new MLC CEO Geoff Lloyd to prepare for separation from NAB, Andrew Hagger believes now is the right time to leave. We have been colleagues for a decade at NAB, I have valued his long-term contribution and I wish him and his family well as he pursues new opportunities.”
Mr Hagger said, “It has always been a privilege to serve our customers and play a role in a number of achievements, including the Break-Up campaign, which attracted one million new NAB customers and core improvements in our consumer bank and UBank. I take accountability for what has occurred on my watch, and accept that alongside successes were failures, including instances where we did not act with the pace required. I leave NAB with confidence that we are creating a better bank.”
NAB is working towards an effective date of 1 October 2018 for these changes, subject to regulatory approval including applicable APRA registration requirements.
Hell, who will Peter and Greg have dinner with now? I guess there is always the bowls club.
So we followed the UK and had FOFA imposed upon us, Hasn’t had the desired effect. We are now following the UK and having minimum education levels imposed, which decimated the UK planner population and is set to see a number of planners leave here. Our banks are following the UK’s who left the wealth management/insurance arena some years back, leaving many uninsured, another fail. Strikes me as odd then that the UK banks and insurance providers are now starting to distribute insurance products again as they look for alternate ways to raise their profit margins, while our banks are jumping out. How long is it before we follow this course, and start the whole process again? Seems what’s old is new again in the UK. Maybe the regulators should cast their eye abroad and learn from their mistakes and the mistakes of others, rather than try save their reputation for their inaction by destroying the industry.
nothing is going to change, another one will replace him. they really need to do prison time
Hagger turned up just in time to go to senate hearings and prepare for the impending doom with all the other legal issues they were bound to be facing. Didn’t really get a chance to change anything, just deal with these issues non-stop. Couldn’t pay me enough for a job like that!
How about $1M per annum (half in salary plus bonus) plus a $750,000 redundancy when it’s done? That’s basically the deal he’s on. Oh, and you get to drive a $295k Maserati while you’re at it.
First of many before the interim RC report?