NAB restructures CCO roles with Andrew Hagger out and Mike Baird now looking after reputation
In the wake of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, one of the big four banks, NAB, has restructured its executive leadership team.
The changes include the departure of chief customer officer for consumer banking and wealth management, Andrew Hagger, and the promotion of former NSW premier Mike Baird.
NAB’s restructured leadership team: David Gall, Shaun Dooley, Andrew Thorburn, Rachel Slade and Mike Baird
Hagger has been with NAB for 10 years and in that time has led the consumer banking and wealth businesses, as well as MLC as chief executive officer, and the corporate affairs, marketing and people divisions.
He was a key figure in the Royal Commission and was criticised for withholding key information about the ‘fee for no service’ scandal, in order to avoid negative publicity.
Hagger said he was accountable for the mistakes and misdeeds that happened under his watch.
“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,” he said.
Hagger: Criticised during the Royal Commission
Former premier Baird is slated to step up and become chief customer officer of consumer banking in the wake of Hagger’s departure. He joined the bank as chief customer officer of corporate and institutional banking in 2017, but will now be charged with setting the bank’s reputation agenda, as well as leading NAB’s retail banking business.
The bank’s marketing function will now fall under the ‘Customer Experience’ business segment, previously known as ‘Customer Product and Services’. NAB said the division will be focused on buuilding advocacy and loyalty through the design and delivery of a leading banking experience. The department will include customer experience, marketing, digital, products, NAB Labs and NAB Ventures.
In further changes, Rachel Slade, currently executive general manager of deposits and transaction services, will become chief customer experience officer to lead the division.
David Gall, currently chief risk officer, will become chief customer officer of corporate and institutional banking, while Shaun Dooley will fill the role vacated by Gall. Dooley is currently group treasurer.
CEO of the bank Andrew Thorburn said the time was right to make changes to the executive leadership team.
“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.”
NAB is working towards an effective date of 1 October, 2018 for the changes, subject to regulatory approval including applicable APRA registration requirements.
Today’s announcement is the latest in a string of changes for the bank’s marketing function, with the role of general manager of brand experience being made redundant and Michael Nearhos departing the company. Nearhos has since joined Virgin Australia as marketing director.
Chief marketing officer Andrew Knott has also left the company.
Anna Bligh. Mike Baird. Politicians looking after bank reputations. Wtf.
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Baird, a man with a reputation of fucking over Sydney, is now in charge of a banks reputation, which is and should be in the toilet for consistently fucking over it’s customers, and getting paid millions to do it.
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A regional baking business seems to be quite a departure from their core business. Are you sure that’s right?
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A rocket to the top Job for Mikey. CEO 2020.
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Fox. Henhouse.
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