Founding chief hands over the reins after growing assets to a record $25.1 billion
Bernadette Inglis (pictured, right) will step down as chief executive of NGM Group, the customer-owned bank behind the Newcastle Permanent and Greater Bank brands, in early 2027 after more than seven years in the role.
Inglis will hand over to James Cudmore (pictured, left), currently NGM Group’s chief customer and digital innovation officer, who was appointed following a comprehensive market scan and selection process supported by an independent executive search firm.
Inglis will work closely with Cudmore through a planned handover over the coming months. She intends to remain on the NGM Group board.
The path to $25 billion
Inglis joined Newcastle Permanent as chief executive in 2019. She later led its 2023 merger with Greater Bank, a deal that took shape after the Greater Bank and Newcastle Permanent boards backed the merger, after which she became the founding chief executive of the combined group.
Home lending and customer deposits have both grown by more than 20% since the merger and total assets now stand at a record $25.1 billion.
NGM Group chair Darren Turner said Inglis would leave the bank well placed for the future. He pointed to record investment in technology, innovation and communities, modernised branches, and a new Hunter head office that is under way.
“Bernadette has built the strategy, organisational foundations and leadership and team capability that have underpinned NGM Group’s strong momentum and performance, earning the bank its role at the top of the sector,” Turner said.
“It has been my privilege to serve in this role and to lead the people of Greater Bank and Newcastle Permanent as we came together to form NGM Group,” Inglis said. “I know that NGM Group will be in excellent hands with James, who has already played an important role in NGM Group’s success.”
Who is James Cudmore?
Cudmore joined Newcastle Permanent in December 2019 as chief customer and product officer. He has held his current role since the merger in March 2023 and currently oversees the group’s customer, product, digital, marketing, corporate affairs, community and sustainability functions.
Before joining the bank, he held senior roles at Westpac and Lloyds Banking Group, including leading Westpac’s regional New South Wales and Australian Capital Territory business.
“James knows NGM Group, our customers and our communities deeply, and brings more than 20 years of banking experience in Australia and the UK,” Turner said.
“I know what NGM Group means to the people and places it serves, so every decision I make will start with what’s right for our customers and communities,” Cudmore said. “NGM Group is in a strong position, thanks in large part to Bernadette’s vision and commitment, and I’m looking forward to realising the bright future ahead.”
