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NAB announces board changes

by Hannah Dowling4 minute read

The major bank has announced the appointment of former Australian of the Year Simon McKeon AO as a non-executive director of the board, effective 3 February.

Philip Chronican, the chairman of National Australia Bank (NAB), has announced the appointment of Simon McKeon AO as a non-executive director of the board, effective as of 3 February subject to regulatory approval.

Mr Chronican noted Mr McKeon’s extensive experience in banking, risk management and governance, including his 30-year tenure at Macquarie Group, which culminated in the role of executive chairman (Melbourne office).

Mr McKeon is currently the chancellor of Monash University, and a non-executive director on the boards of Rio Tinto and Spotless Group. He served as inaugural president of the Banking and Finance Review Panel and is a fellow of the Australian Institute of Company Directors.

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Prior to joining Macquarie Group, Mr McKeon practiced as a solicitor in Sydney. Following his time at Macquarie, he served as non-executive director and chairman of MYOB Ltd and AMP Ltd, chairman of the Commonwealth Scientific and Industrial Research Organisation (CSIRO) and was the founding president of the Australian Takeovers Panel.

Mr McKeon was named 2011 Australian of the Year, and in 2012 was named an Officer of the Order of Australia for his distinguished service to business and commerce through leadership and advisory roles, and to the community as a supporter of national and international charitable, educational and sporting organisations.

Mr Chronican welcomed Mr McKeon to the company and the board of directors.

“My fellow directors and I are delighted Simon has accepted our invitation to join the board and look forward to the insights that he will bring from a range of sectors, including financial services, the law, government, education and charities,” Mr Chronican said.

Commenting on his appointment, Mr McKeon said: “Our largest financial services organisations provide financial stability and essential services to consumers and businesses, while at the same time employing tens of thousands of Australians and providing substantial community support.

“In recent years, these organisations, including NAB, have been subjected to significant and well-founded criticism, while also becoming increasingly complicated and challenging entities to run,” he said.

“Joining NAB as a director gives me an opportunity to assist the improvement process from the inside, while also supporting the bank’s ambitions at a time of seriously enhanced competition,” Mr McKeon concluded.

[Related: MyState CEO to step down]

nab

Hannah Dowling

Hannah Dowling

AUTHOR

Hannah Dowling is a journalist for The Adviser and Mortgage Business.

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