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Chairman of NAB’s private wealth unit to step down

Chairman of NAB’s private wealth unit to step down

The chair of National Australia Bank’s (NAB) private wealth advisory unit, JBWere, is set to leave the lender by the end of September.

Andrew Hagger, who is also chief customer officer for the consumer and wealth units since 2016, will leave NAB after 10 years.

During this time, he held various positions, including group executive of NAB Wealth as well as executive general manager of MLC - formerly known as Mutual Life and Citizen Assurance Company - and NAB Wealth’s insurance business.

Under Hagger’s leadership, the bank has faced intense scrutiny after the Royal Commission found the consumer banking unit had charged fees for no service as well as to dead customers.

He said: ‘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.’

Succeeding Hagger as NAB’s new chair for JBWere is Anthony Healy, currently the chief customer officer for business and private banking, Citywire Asia has learned.

Healy joined the bank as chief customer officer in January from Bank of New Zealand, where he was CEO and managing director since 2014.

Following Hagger’s departure, Mike Baird will be appointed chief customer officer for consumer banking, effective 1 October.

Baird, who is currently the chief customer officer for corporate and institutional banking, will also be responsible for setting NAB’s 'reputation agenda'.

David Gall, the bank’s chief risk officer, will replace Baird as chief customer officer, corporate and institutional banking.

Consequently, group treasurer Shaun Dooley will become chief risk officer on 1 October. He will also join the bank’s executive leadership team.

NAB has launched a new division called customer products and services to be led by Rachel Slade as chief customer experience officer.

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.

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