Mr Hagger joins Perpetual Limited chief executive and managing director Geoff Lloyd as well as Australian Unity Investments chief executive and chief investment officer David Bryant as an incoming director of the FSC board.
"We welcome the breadth and depth of experience these directors bring to the FSC board," FSC chairman Peter Maher said.
"These three directors have accepted appointments to the FSC board at a time of significant transformation for financial services in Australia - an industry which is now well positioned to become Australia's next major area of growth."
Mr Hagger was appointed to the NAB group executive role in a recent shake-up of NAB's executive team, which saw former NAB Wealth group executive and FSC board member Steve Tucker depart from the company.
Mr Lloyd is a former FSC director who previously served on the board between 2008 and 2010.
The appointments also mark other changes to the FSC board. AMP director of wealth protection, Pauline Blight-Johnston; ANZ chief executive, global wealth and private banking, Joyce Phillips; and former Fidelity Australian head, Gerard Doherty join Steve Tucker in ending their service as FSC directors.
