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One of the big four banks has announced changes to its executive team, as a major head steps down following the royal commission.
The changes at NAB see its head of consumer and wealth, Andrew Hagger, leave his role following the heavy scrutiny. In a statement, Hagger took responsibility for what has happened.
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.”
The shake-up includes a new role for former NSW premier Mike Baird who had previously held the position of chief customer officer, corporate and institutional banking since April 2017.
Baird will now take on the role of chief customer officer, consumer banking, leading the retail banking business including more than 700 branches, 7000 bankers, broker partnerships, direct banking and the digital bank UBank.
NAB chief executive officer Andrew Thorburn said the changes would bring greater focus and momentum to NAB’s commitment to being a simpler, more customer focussed bank.
He said, “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.”
Other moves include the redesign of the Customer Products & Services division, which will now become Customer Experience.
Rachel Slade, who previously held the role of executive general manager, deposits & transaction services, will lead the new division as chief customer experience officer.
Taking over Baird’s previous role in the team is David Gall who has been NAB’s chief risk officer and part of the NAB Executive Leadership team since August 2014.
Shaun Dooley, who has been with NAB since 1992, joins the leadership team as chief risk officer from his role as group treasurer.
Thorburn said: “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.
“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.”
