NGM Group has appointed an internal senior executive as its next CEO.
NGM Group, the customer-owned banking organisation behind Greater Bank and Newcastle Permanent, has appointed James Cudmore as its next CEO, succeeding Bernadette Inglis.
Currently chief customer and digital innovation officer, Cudmore will work alongside Inglis during a planned handover over the coming months, which the bank said was intended to maintain continuity for customers, employees, and stakeholders.
Inglis is leaving executive leadership after more than seven years with Newcastle Permanent and NGM Group to pursue board and advisory work.
An internal successor
Cudmore brings 20 years of banking experience in Australia and the UK, including senior positions at Westpac and Lloyds Banking Group.
He joined Newcastle Permanent in December 2019 as chief customer and product officer, taking his current position when the banks merged in March 2023.
His responsibilities span customer, product, digital, marketing, corporate affairs, community, and sustainability.
Chair Darren Turner said Cudmore’s experience was complemented by his understanding of the group’s stakeholders.
“James combines deep banking experience with a genuine understanding of the people and communities we serve,” Turner said.
“He knows this organisation back-to-front, believes strongly in our purpose and has the Board’s full confidence to lead its next chapter.”
A merger-era legacy
Inglis became Newcastle Permanent’s CEO in 2019, subsequently leading its merger with Greater Bank and becoming NGM Group’s founding CEO.
The group said home lending and customer deposits had grown more than 20 per cent since the merger, with assets reaching $25.1 billion.
Turner credited Inglis with balancing organisational change and thoughtful leadership throughout her tenure.
“Bernadette has led with conviction and care while driving significant transformation,” Turner said.
“She brought two proud organisations together, keeping our customers, communities and purpose at the heart of every decision – NGM Group would not be where it is today without her strong leadership.”
Inglis reflected on the significance of leading a bank with deep regional connections.
“It has been an extraordinary privilege to lead an organisation that means so much to its communities, and plays such a significant role in regional Australia,” Inglis said.
“Both Greater Bank and Newcastle Permanent carry trust earned over generations, and I’m proud of how our people have nurtured and built on that trust every day.”
She also expressed confidence in her successor’s ability to lead the group.
“James understands both the responsibility and the opportunity that come with leading NGM Group, and I know the organisation will be in excellent hands,” she said.
Cudmore acknowledged the responsibility accompanying his appointment and the importance of maintaining stakeholder trust.
“Leading this organisation is a privilege that I do not take for granted, and I will work every day to honour the trust that our customers, people and communities place in us,” he said.
“NGM Group is in a strong position, thanks in large part to Bernadette’s leadership, and I’m looking forward to realising the bright future ahead.”
[Related: NGM Group unveils Newcastle local as new chair-elect]
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