Huge hire for NAB

  • Westpac merges consumer and business divisions

    Group CEO says the combined division will “drive simplification of banking and help to reduce cost”

  • Pepper Group touts upcoming ASX float

    The lender is taking its second run at the ASX in under six years

  • SPECIAL REPORTS

    • 2018 Commercial Lenders Roundtable
    • Top 10 Brokerages 2018
    • 2018 Brokers on Aggregators

    When we broke the news to the mortgage industry yesterday that Phil Waugh was leaving Westpac, little did we know that he would be moving from wealth management to mortgage distribution.

    NAB has made an internal announcement of Waugh’s hire, with NAB’s home ownership executive, Andy Kerr telling staff “Phil is an exceptional financial services leader having led large relationship and intermediated distribution businesses in previous roles. He joins us from Westpac where he is currently the head of private wealth north, having previously led Westpac’s COVID-19 response for business customers and St George’s auto finance division,”

    “Phil is an exceptional financial services leader having led large relationship and intermediated distribution businesses in previous roles. He joins us from Westpac where he is currently the head of private wealth north, having previously led Westpac’s COVID-19 response for business customers and St George’s auto finance division,”

    Kerr also told staff that this hire would “further strengthen” NAB’s commitment to mortgage brokers. This move comes after the bank divested itself of aggregators Plan and FAST late last year which begs the question – is it now looking to ramp up distribution through the broker channel?

    Original Article