NAB loses COO to Visa

National Australia Bank’s COO, Antony Cahill, has tendered his resignation, after more than eight years at the bank.

The outgoing COO’s last day will be Friday, 14 September 2018.

Mr Cahill is returning to the UK with his family, according to NAB’s disclosure to the ASX, in order to take up the position of managing director of European regions at global payments company Visa, as confirmed by Mortgage Business sister title Investor Daily.

The major bank’s CEO, Andrew Thorburn, admitted that he was “disappointed” to lose Mr Cahill, but thanked him for his service and expressed his well wishes for the outgoing COO and his family.

“It has been a pleasure to work with Antony over the four years he has been on our executive leadership team,” Mr Thorburn said.

“He has made a significant contribution to the bank, and his leadership in product management, customer journeys and with NAB Labs and NAB Ventures are worthy of special mention.”

Commenting on his own departure, Mr Cahill said that he was proud of his time at the major bank and said that it was “stronger” and “more customer-focused”.

“That work continues and, under Andrew’s leadership, NAB is on the right path to rebuild trust and respect among customers and the community.”

NAB told Investor Daily that Mr Cahill would be starting his new position at Visa’s London office in January 2019.

Further, the major bank announced that its executive general manager of deposits and transaction services, Rachel Slade, will be acting group executive of customer products and services to “enable a smooth transition” while the CEO considers next steps.

[Related: High-income earners most anxious about mortgage repayments: NAB]