National Australia Bank (ASX: NAB) has announced key executive changes at the higher level with CEO Andrew Thorburn stating that these changes would help the organization to focus better. NAB has announced that the new roles will most likely be applicable from 1 October 2018, subject to regulatory approval such as applicable APRA registration requirements.
Rachel Slade has been appointed as the Chief Customer Experience Officer, focusing on retaining the loyal customers by designing and delivering core banking experience. Slade would largely be concerned with the areas such as Customer Experience, Digital, Products, Marketing, NAB Labs and NAB ventures. Slade has been working with NAB in the capacity of Executive General Manager of Deposit and Transactions Services since joining the bank in January 2017. Prior to NAB, she worked with Westpac, holding 10 years of experience.
In another top management reshuffling, Mike Baird has been appointed as the Chief Customer Officer of Consumer Banking and would lead the retail business of the bank including over 700 branches, 7000 bankers, partnerships, brokers, direct banking and the digital bank UBank. Baird who has been Chief Customer Officer, Corporate and Institutional Banking since April 2017 would also be concerned with setting Bank’s reputation agenda. This would be Baird’s golden chance to prove that he is the perfect fit for the top job in banking. Former retail bankers who reached to the highest level in the Banking include Brian Hartzer at Westpac Banking Corp, John Stewart at National Australia Bank, David Murray of the Commonwealth Bank of Australia and NAB CEO Andrew Thorburn.
NAB further announced that David Gall has been appointed as the Chief Customer Officer, Corporate Institutional Banking. Earlier, he worked as Chief Risk Officer and has been a significant part of the NAB Executive Leadership team since August 2014. Gall comes with 29 years of experience in Corporate, commercial and retail banking. Shaun Dooley has been appointed as the Chief Risk Officer, earlier working as the Group Treasurer and has been a part of NAB since 1992. Dooley has lead Risk, Corporate and Institutional Banking divisions during his long haul in NAB.
Thorburn announced that Andrew Hagger would leave the organizations after 10 years of his service wherein for past eight years he was the member of the Executive Leadership Team. During his tenure in NAB, Hagger has led the Consumer Banking and Wealth businesses, MLC as the chief executive officer and the Corporate Affairs, Marketing& People Division.
Talking about the new executive changes, Thorburn stated that Rachel, Mike, Shaun, and David are outstanding leaders who always give top priority to the customers and bring terrific value and authenticity to NAB every day. He added that these leaders also showcase the depth of talent that NAB has and that he is delighted to promote both Shaun and Rachel to the Executive Leadership Team.
In the context of his leaving the organization, Hagger stated that it has always been the privilege to serve the customers and be a part of a number of achievements. He talked about the successful Break-Up campaign which brought in one million new NAB customers and core improvements in the consumer bank and UBank division. NAB indicated that Hagger was keen to step down from the role and exit the organizations for months now but stayed put only on the request of Thorburn. Next thing, the company released the statement wherein Hagger stated that he would take the full responsibility and accountability for what has happened under his supervision. Hagger stated that he would accept the failures and apologizes for not taking a swift action when it was required.
NAB’s shares traded at $27.520, up 0.622% as on 17 September 2018 (AEST: 1:54 p.m.).
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