Finance Finance News Former NSW premier Mike Baird to lead NAB consumer arm

Former NSW premier Mike Baird to lead NAB consumer arm

NAB executive Andrew Hagger has resigned after his royal commission hearing.
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Former NSW premier Mike Baird will take on a new role within NAB after chief customer officer Andrew Hagger announced his resignation following an appearance before the royal commission.

Mr Hagger has been an executive leader at the bank for eight years, and was most recently the chief customer officer for consumer banking and wealth management – a role in which Mr Baird has been tapped to replace him.

In April, Mr Hagger faced the royal commission and was questioned about fees charged by NAB for financial advice that was not actually provided to the people billed. He was also quizzed about why the bank told corporate regulator ASIC that it owed $12.4 million to these affected customers when NAB’s own data suggested it was actually closer to $35 million.

“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,” Mr Hagger said of his resignation.

“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.”

Mr Hagger said he was leaving the NAB “with confidence that we are creating a better bank”.

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Former NSW premier Mike Baird is tipped to take on a more senior role at NAB. Photo: AAP

NAB chief executive Andrew Thorburn said other changes within the business meant the time was right for Mr Hagger’s departure.

“We have been colleagues for a decade at NAB,” he said. “I have valued his long-term contribution and wish him and his family well as he pursues new opportunities.”

Mr Baird, who will become chief customer officer for consumer banking, was NSW premier from 2014 until his surprise resignation in January 2017.

At the time, he cited a desire to spend more time with family as a key driver in his decision. The next month, he announced he had taken a senior role with NAB.