Hagger departure triggers another NAB makeover
National Australia Bank chief executive Andrew Thorburn is banking on a management reshuffle to help restore the company's standing in the Australian community, after claiming several new appointments to his senior executive team bring "terrific authenticity" with them.The NAB boss announced a reorganisation of his senior management line up on Monday after Andrew Hagger - the executive at the centre of the "Fees For No Service" scandal - announced he will leave the bank at the end of the month.Thorburn has named former NSW premier Mike Baird as Hagger's replacement in the role of chief customer officer at the consumer bank.The departure of Hagger follows evidence presented to the Hayne Royal Commission last month that led counsel assisting to argue that the bank disrespected the role of Australian Securities and Investments Commission and disregarded the gravity of imposing fees on customers when no services were delivered.Hagger, a ten year NAB veteran, said he took accountability for the scandal, which ripped around A$100 million from the accounts of thousands of superannuation customers." I take accountability for what has occurred on my watch, and accept that along with successes were failures, including instances where we did not act with the pace required," he said."I leave NAB with confidence that we are creating a better bank."In normal circumstances, a long-serving senior executive at NAB could expect to receive a fat payout when he or she leaves the company, but the bank did not comment on whether Hagger would lose any bonus pay this year.Hagger was one of the highest paid executives at the company in the last decade, including over recent years while he managed NAB's flawed strategic response to the fees controversy.He also received performance bonuses worth millions while the bank's remediation program for thousands of customers was stalled. Thorburn yesterday paid tribute to Hagger's contribution to the company."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," said the NAB boss."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."While Baird is one of the big winners in the management revamp, another is former Westpac executive Rachel Slade who has been elevated to Thorburn's senior executive team less than two years after joining NAB.Slade will take on the newly created role of chief customer experience officer with core responsibility for "building advocacy and loyalty through the design and delivery of a leading banking experience". She will oversee a slab of the group's operations including, marketing, digital banking, products, NAB Labs and NAB Ventures.Baird will take control of the bricks and mortar retail banking network but will also claim responsibility for "direct banking" and UBank - even though Slade's job description also covers "digital banking".Baird is ceding his current role as chief customer officer in the institutional bank to David Gall who has