Briefs: NGM board adds banking experience, FSA Group takes debt services division out of mothballs
Long serving Westpac and St George Bank executive, Rod Jackson, has joined the board of NGM Group, the recently-merged Newcastle Permanent Building Society and Greater Bank. During his career at Westpac, Jackson was chief financial officer of the institutional, international and retail divisions. He was chief operating officer of Europe and the Americas and general manager finance for the group. His other boards include chair of Westpac Europe and director of recruitment company Searson Buck.
Debt manager and lender FSA Group is taking its services divisions “out of hibernation”, following an increase in inquiries. The company had previously reported that the number of new clients signing up for help setting up informal payment arrangements or debt agreements with their creditors fell 58 per cent in the year to June – an indication of the lasting impact of COVID stimulus and forbearance measures. The company shifted its focus to ending. In its latest market update, it said the impact of those measures has eased and there is growing evidence of consumer financial stress.