She is leaving for a role outside banking
National Australia Bank (NAB) has announced that Philippa Watson (pictured above), chief executive of its digital banking subsidiary, Ubank, is stepping down to take a position outside the banking industry.
Watson has led Ubank since 2020, overseeing growth in customer numbers, deposits, and home loans. Under her leadership, Ubank achieved the second-highest customer satisfaction rating among Australian banks.
In addition to her role at Ubank, Watson has served as a non-executive director at Lifeline Australia since 2023 and at NAB Ventures since 2020. Prior to joining NAB, she spent 14 years at Commonwealth Bank of Australia (CBA) in senior roles, including leading direct banking, lending, fraud management, and regulatory programs. She also managed crisis response and contact centre operations across CBA and Bankwest. Watson began her career as a technology consultant at Accenture, specialising in digital transformation.
“Philippa has successfully led Ubank through significant transformation, including neobank 86 400’s acquisition and integration,” said Les Matheson, NAB Group chief operating officer and Ubank chair. “She has built a technology platform and culture that positions the business for continued momentum and long-term growth. We are grateful to Philippa for her contribution and wish her well.
“I will work with Philippa on a smooth transition over coming months while we appoint a new CEO for Ubank.”
Established in 2008, Ubank provides savings products and home loans online and over the phone.
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