The neobank’s new CEO has previously held leadership positions at UBank and CBA.
National Australia Bank (NAB) has named Kanishka Raja as CEO of its digital bank subsidiary UBank, effective immediately.
Prior to his appointment, Raja was a member of the UBank leadership team for four years, leading the bank’s home lending business before heading up the everyday banking, growth, and data and analytics teams.
He previously held leadership roles at the Commonwealth Bank of Australia (CBA) spanning strategy, performance, data, and analytics. Before that, Raja spent around eight years with Boston Consulting Group.
Raja succeeds Philippa Watson, who departed in June this year.
UBank said the new CEO is an experienced banking executive, with leadership experience in banking strategy and business performance, along with a deep understanding of the needs of digitally savvy banking customers.
UBank chair and NAB chief operating officer, Les Matheson, said the appointment marked an exciting chapter for the digital bank.
“Kanishka is a highly capable and dedicated leader with a passion for innovation and customer experience. His leadership will be instrumental as Ubank continues to scale and deliver simple, smart banking for Australians,” Matheson said.
Speaking about his appointment, Raja commented: “I’m honoured to lead Ubank at a time when digital banking is reshaping how Australians manage their money.
“Ubank’s commitment to simplicity, transparency and customer-first innovation is what drew me here, and I look forward to working with the talented Ubank team to build on the momentum we have created.”
From January 2026, Raja will report to Pete Steele, NAB’s incoming group executive of digital, data, and AI.
Steele was appointed to the new role in June and will be accountable for the big four bank’s digital, data, and AI teams and initiatives, when he begins in the role on 5 January 2026.
UBank recently rolled out smart money management features on its app, passkeys for app-based banking, and automating home lending.
The banking group said Raja’s appointment reinforces the bank’s strategic focus on customers and digital innovation.
[Related: NAB announces senior leadership shake-up]
