The firm has made several changes to its managerial team which comes during the Royal Commissions' investigation into the Australian wealth sector.

National Australia Bank has rebranded its customer products and services team as customer experience, which will include customer experience, marketing, digital, products, NAB labs and NAB ventures. The firm has also made several changes to its executive leadership team.

Rachel Slade will lead the customer experience division in the new role of chief customer experience officer. She 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.

The firm has appointed Mike Baird as chief customer officer of consumer banking. He will lead NAB’s retail banking business including more than 700 branches, 7000 bankers, broker partnerships, direct banking and the digital bank UBank. He has been CCO of corporate and institutional banking since April 2017.

David Gall has moved to the role of CCO of corporate and institutional banking. He has been NAB’s chief risk officer and part of the NAB executive leadership team since August 2014, having spent 29 years in corporate, commercial and retail banking.

Shaun Dooley joins the NAB executive leadership team as CRO. He is currently group treasurer and has been with NAB since 1992, serving in various senior executive roles in risk, corporate and institutional banking.

Also Andrew Hagger will leave NAB after 10 years, including the past eight years as a member of the executive leadership team. In that time, he has led the consumer banking and wealth businesses; MLC as chief executive; and the corporate affairs, marketing and people divisions.

“We have a clear plan to transform NAB and create a sustainable business that puts customers first – and we are executing on that plan,” said Andrew Thorburn, NAB CEO. “Now is the right time to make these changes as we work to create a better bank and earn the trust of our customers.”

NAB is working towards a date of 1 October for these changes, subject to regulatory approval.

These changes come at a time when the Australian wealth management sector is coming under scrutiny by regulatory authorities after the Royal Commission’s investigation. This publication reported in June on all of the issues arising from the investigation.