Andrew Hagger to depart NAB following executive restructure

National Australia Bank has announced the departure of Andrew Hagger, chief customer officer of consumer banking and wealth management, following a restructure of the bank's executive leadership team.

Hagger, who joined NAB in 2008 and its executive leadership team in 2010, previously served as chief executive of MLC and as head of NAB's corporate affairs, marketing & people divisions.

Commenting on the restructure - which sees Mike Baird appointed as chief customer officer, consumer banking; David Gall appointed as chief customer officer, corporate and institutional banking; Rachel Slade appointed as chief customer experience officer; and Shaun Dooley appointed as chief risk officer - NAB CEO, Andrew Thorburn, said: "We have a clear plan to transform NAB and create a sustainable business that puts customers first - and we are executing on that plan."

Thorburn said of Hagger's departure: "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. 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."

Hagger added: "I take accountability for what has occurred on my watch, and accept that alongside successes were failures, including instances where we did not act with the pace required. I leave NAB with confidence that we are creating a better bank."

NAB expects the changes to be in place by 1 October 2018, subject to regulatory approval.