Personal banking is where McEwan wants radical change, built around “just a radically simpler and digitally first proposition.” A perfect example of NAB’s complexity is the fact it has five separate mortgage origination systems; McEwan wants one, a process he emphasises will take as much as five years to complete. “Allowing people too many projects running in the business means you don't put enough money into them, you don’t put your best resources against them and therefore the outcome isn't always the best,” McEwan says. Mr McEwan received a CBE in the Queenâs 2020 New Year Honours list for services to the financial sector in the UK. In scrambling to help customers in the last few weeks, McEwan says the qualities he wants have been on display. “I saw all the stuff flying around at the weekends and I said to our executives and to the board, ‘Please just stop it. It should also be noted that Thorburn’s cost cutting strategy has given McEwan plenty to work with. That is, every decision that costs shareholders any money must now be carefully considered. Ross McEwan became Group Chief Executive Officer and Managing Director of National Australia Bank Limited in December 2019. There, he had to turn around an underperforming retail bank. Having built a great success at Commonwealth Bank, to then flick into another bank – I couldn’t do it. Both the bank and its parent, The Royal Bank of Scotland Group, are completely separate from the fellow Edinburgh based bank, the Bank of Scotland, which pre-dates The Royal Bank of Scotland by 32 years. But he seems resigned to the fact the story he wants to tell does tend to get overshadowed by the negative headlines. He won't make his staff work on weekends, he's ready for bad headlines, and he says honesty is the best policy, writes Hans van Leeuwin . Help using this website - Accessibility statement, by raising $3.5 billion of capital at the cheapest price the bank’s stock has been in two decades, who officially started at the bank on December 1, McEwan sees a lack of accountability that led NAB to lose focus, the $1.5 billion strategy announced by his predecessor, Andrew Thorburn, in 2017, ThinkMarkets' $300m listing delayed; ex-Regal bigwig joins board, Plaid, Basiq deal to link fintechs with bank data, CBA, Westpac, NAB cut fixed rate mortgage, business loans rates, Nine reasons to own Nuix: Macquarie analysts, ASX ends lower, US stock futures off highs, Biden, Trump to stay strong on China no matter who wins, Key states too close to call as results may take days, Costs predicted to overcome politics for US solar power, Crown 'unsuitable' for Barangaroo licence: inquiry, Deutsche Bank seeks ways to sever ties with Trump, Woolworths sweats assets as online sales surge, Online lies and misinformation surge on election day, Fire, smoke and steam add ancient drama to new food venue, Why slogomania has overtaken logomania in fashion, Italian inspiration meets Australian flavour in new liqueurs to love, Six things I learnt from trying 20 online courses, Rich Listers win with boards that can say no, Crown Sydney serves up three of the city's hottest chefs, The watches that make Christine Holgate's look cheap, Screen star Marion Cotillard turns her hand to jewellery design, How to become a Financial Review Rich Lister, Rinehart's Hancock Prospecting surges to $4b profit, Rich Lister Tony Haggarty offloads $26m of prime grazing country, Sarah Thompson, Anthony Macdonald and Tim Boyd. Ross McEwan became Group Chief Executive Officer and Managing Director of National Australia Bank Limited in December 2019. Ross joined NAB from the Royal Bank of Scotland (RBS) where he served as RBS Group CEO (2013-2019) and CEO UK Retail (2012-2013).
Perhaps the most interesting opportunity in McEwan’s restructure is around UBank, the digital-only subsidiary developed by Cameron Clyne back in 2008. It’s an old-fashioned banking approach built around key business lines: business and private banking, corporate and institutional, personal banking, Kiwi subsidiary BNZ and the online-only UBank unit.
He’s also keen a rebuild a true private bank for these business customers, harnessing the NAB trade and JBWere businesses that have been lost inside NAB in recent years.
Its capital position was weak and it was making huge losses.
Alison Rose has worked at RBS for 27 years. He and his wife did the backpacking-and-bar-work year in Britain, then went back to New Zealand where he took an HR job with National Mutual.
Ah we can certainly take a look into this for you. Complaints Department is not affiliated to, linked with or otherwise endorsed by Royal Bank of Scotland (RBS). Then he shifted into the CBA retail arm in Australia, where he started off running the contact centre and the branch network and was quickly installed as the head of the whole retail operation. “I’m not one for a great many functions,” he says. A $25k grant from the Federal Government to help renovate or build new homes.
Conditions apply. He ran ASB’s wealth management division, then the retail division – whose praises he still sings. US stock futures are off highs after an upbeat speech from presidential challenger Joe Biden. At RBS, for example, there has been a vocal backlash to McEwan’s shuttering of nearly half the bank’s remaining bricks-and-mortar branch network. The bank hired him as CEO a month ago but he hasn’t got a start date yet. And big new strategies tend to come with big price tags and execution risk. “We’ve been as open-book as we possibly can on the issues that we were dealing with. Help using this website - Accessibility statement, the British media has fuelled speculation, ASX ends lower, US stock futures off highs, Biden, Trump to stay strong on China no matter who wins, Key states too close to call as results may take days, Costs predicted to overcome politics for US solar power, ThinkMarkets' $300m listing delayed; ex-Regal bigwig joins board, Plaid, Basiq deal to link fintechs with bank data, CBA, Westpac, NAB cut fixed rate mortgage, business loans rates, Nine reasons to own Nuix: Macquarie analysts, Online lies and misinformation surge on election day, Woolworths sweats assets as online sales surge, Crown 'unsuitable' for Barangaroo licence: inquiry, Deutsche Bank seeks ways to sever ties with Trump, Fire, smoke and steam add ancient drama to new food venue, Why slogomania has overtaken logomania in fashion, Italian inspiration meets Australian flavour in new liqueurs to love, Six things I learnt from trying 20 online courses, Rich Listers win with boards that can say no, Crown Sydney serves up three of the city's hottest chefs, The watches that make Christine Holgate's look cheap, Screen star Marion Cotillard turns her hand to jewellery design, How to become a Financial Review Rich Lister, Rinehart's Hancock Prospecting surges to $4b profit, Rich Lister Tony Haggarty offloads $26m of prime grazing country, Sarah Thompson, Anthony Macdonald and Tim Boyd. A $25k grant from the Federal Government to help renovate or build new homes. McEwan laughs as he recounts his answer.
“Today, the digital players are coming into the marketplace and we just happen to have one of them.”, McEwan insists Andrew Thorburn has the right strategy at NAB. Email Ross McEwan (CEO) on ross.mcewan@rbs.co.uk, Call Customer Services England on 0345 900 0400, Call Customer Services Scotland on 03457 24 24 24, Call Customer Services Wales on 0345 900 0300.
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