ASX-listed bank waves goodbye to consumer and wealth chief, Andrew Hagger, and realigns executive ranks after coming under scrutiny in the Australian banking royal commission
NAB is appointing its first chief customer experience officer, waving goodbye to its retail and wealth chief, rebranding its customer products and services division, in an executive leadership restructure it says will help put customers first.
As part of the realignment, the ASX-listed banking giant has rebadged its customer products and services division to Customer Experience, and promoted former EGM of deposits and transaction services, Rachel Slade, to become its first chief customer experience officer. The division, which was first created two years as part of another executive restructure, encompasses customer experience, marketing, digital, products, NAB Labs and NAB Ventures.
In addition, NAB chief customer officer of Consumer and Wealth, Andrew Hagger, will leave NAB after 10 years. His departure follows a restructure of the Wealth business in preparation for the separation of MLC. Hagger’s position covered the retail banking businesses, broker partnerships, financial advice, direct banking and Ubank.
Hagger’s departure comes amid one of the biggest Royal Commissions into Australia’s big banks in this country’s history and just two weeks after he gave evidence for a second time.
Speaking on his decision to leave, Hagger took responsibility for the problems within the wealth division exposed through the banking royal commission process.
“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,” he stated.
The group has switched former NSW Premier and chief customer officer of its Corporate and Institutional Banking division, Mike Baird, into the role of chief customer officer of Consumer Banking. Baird joined NAB in April last year and will now oversee the retail banking business and digital bank, Ubank.
In Baird’s stead, David Gall has been moved to the Corporate and Institutional Banking team. He was previously chief risk officer, has been on NAB’s executive management team for four years, and has 29 years’ experience in corporate, commercial and retail banking.
Filling the risk chief gap, meanwhile, is Shaun Dooley, who was group treasurer and has been with NAB since 1992 working across risk plus Corporate and Institutional Banking.
NAB CEO, Andrew Thorburn, said the latest executive changes were about bringing greater focus and momentum to the bank’s commitment to being a simple, 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,” he stated. “Now is the right time to make these changes as we work to create a better bank and earn the trust of our customers.”
Commenting specifically on Hagger’s departure, Thorburn said it the recent unification of the Wealth businesses under new MLC CEO, Geoff Lloyd, to prepare for separation from NAB, Andrew Hagger made it the right time for Hagger 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,” Thorburn added.
News of the executive changes also comes a couple of months after the departure of CMO, Andrew Knott, who has taken up the newly created role of chief media officer at JPMorgan Chase in the US. NAB has appointed Susana Ristevski acting CMO.
The executive changes officially come into effect on 1 October 2018.
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