In a series of significant moves within the country’s major banks, Westpac, NAB and CBA have all confirmed changes to either their executive teams or directorships.
Namely, Westpac on Monday announced the appointment of Nathan Goonan as chief financial officer (CFO), subject to regulatory approval.
With more than two decades of experience in financial services, Goonan joins from NAB as current group CFO.
Prior to becoming group CFO, he was group executive strategy and innovation and has also held various roles across NAB in the fields of corporate affairs and mergers and acquisitions. Notably, Goonan began his career in mergers and acquisitions at NAB before moving into investment banking, later rejoining the bank in 2013.
Goonan, who will be joining Westpac later this year, replaces current CFO Michael Rowland.
Commenting on the appointment, Westpac chief Anthony Miller said: “Nathan is a seasoned financial services executive, with more than 20 years’ experience across all aspects of banking. I’m delighted to appoint someone of Nathan’s calibre to this role.”
“His breadth of knowledge across many areas, coupled with his deep expertise in finance, makes him an ideal fit,” Miller added.
NAB announced executive reshuffle
Goonan is not the only NAB executive to be leaving its team, according to a statement from the bank on Monday.
Namely, Rachel Slade, current group executive, business and private banking (B&PB), will be stepping down on 1 July.
As such, the big four bank confirmed that Andrew Auerbach, an experienced business and wealth banker from Canada, will join as its new group executive B&PB from 16 June.
Auerbach spent more than 21 years in senior executive roles with the Bank of Montreal (BMO) in Canada, including alongside NAB CEO Andrew Irvine.
On leaving BMO in 2023, he co-founded and is CEO of Canadian wealth management firm Delisle Advisory Group. According to NAB, he will end his involvement with Delisle before starting in his new capacity.
Other arrangements to support the transition, NAB detailed, include Michael Saadie, current executive for private wealth and CEO of JBWere, acting as group executive B&PB until Auerbach’s official start. Moreover, group chief risk officer (CRO) Shaun Dooley will act as group CFO while NAB undergoes its search for a permanent replacement.
Peter Whitelaw, current executive, chief resilience risk officer, will serve as acting group CRO in the interim.
“NAB has good business momentum and is executing a clear strategy based on being better for customers and our colleagues. We have great talent and leadership across the bank and I’m confident we will maintain momentum while we embed these changes,” Irvine said on the reshuffle.
“Andrew will be a tremendous addition to the NAB team and a strong leader for our leading business bank as we continue to execute our strategy and drive performance in a competitive environment. In particular, he brings a strong track record of improving both customer experiences and financial performance.”
“Rachel and Nathan have been dedicated to NAB, very supportive of successive group CEOs and focused on customers every day. I have appreciated their support in our time together and wish them well for the future,” he said.
CBA adds to board
CBA on Monday also announced that Barclays group chief operating officer Alistair Currie would be joining its board as an independent non-executive director, subject to regulatory requirements.
The appointment is expected to take effect later this month.
Currie brings extensive international banking experience to the role, having held roles in Australia, the United Kingdom, the United States, Asia and the Middle East.
According to CBA, he will be retiring from Barclays in June. Prior to joining the investment bank, he was previously at ANZ where he held senior positions including group chief operating officer, and before this, held various international roles at HSBC.
“On behalf of the board, I am delighted to announce Alistair Currie’s appointment and to welcome his extensive banking expertise in his role as a non-executive director of CBA,” CBA chair Paul O’Malley said.
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