NAB goes overseas for new COO

Appointment is final part of Ross McEwan’s executive shake up

NAB goes overseas for new COO

When looking for the final piece in his executive reshuffle, NAB’s chief executive went for someone he knows well as COO - Les Matheson from Royal Bank of Scotland. Matheson was the CEO of personal and business banking at the British outfit, and the pair had worked together when McEwan was at RBS.

“During our time working together in the UK, he demonstrated his deep knowledge of what it means to really deliver for customers and colleagues,” McEwan said in a statement.

Matheson, who will start in his new position on January 16, has plenty of banking experience and of Australia. He spent 10 years at Citi, six of which were as the Australian CEO of Citi’s retail business and he was head of retail at St George until it merged with Westpac 12 years ago.

Matheson’s role will encompass Ubank, marketing, corporate affairs and what NAB calls “other key strategic initiatives”, and he seems keen to return to the country.

“This is a terrific opportunity to work with Ross and his team to deliver on NAB’s refreshed strategy and ambition to serve customers well and help our communities prosper,” he said in a statement.

“That’s what good banks should do.”

The announcement comes a year to the day after McEwan took the helm of the Big Four bank.