Former NSW Premier Mike Baird to leave NAB

Former NSW Premier Mike Baird will stand down as the head of NAB’s consumer bank after three years with the lender. 

The bank said on Thursday Mr Baird will leave the role on April 15 and take a break before “considering new opportunities”. 

Mr Baird in 2017 agreed to join NAB as head of the corporate and institutional bank just six weeks after resigning as NSW premier.

He was initially rumoured to be among the candidates for the chief executive role when former NAB boss Andrew Thorburn stepped down in February last year after copping scathing criticism during the banking royal commission. 

Former Commonwealth Bank retail boss Ross McEwan was eventually tasked with rebuilding the bank’s battered reputation as its new managing director.

Mr McEwan, who officially started in the role in December, said he supported Mr Baird’s decision to step down. 

“I am pleased that he has been part of my leadership team but understand and accept the reasons for his decision to leave,” Mr McEwan said in a release to the ASX. 

Mr Baird did not detail his future plans.

“I have an open mind about what I will do next and will use the time to determine where I believe I can make the best, most fulfilling contribution to business and the wider community,” Mr Baird said. 

Mr Baird’s decision to join NAB came just months before the Hayne royal commission was announced and the bank was dragged over the coals for its misdeeds, which include the fees-for-no-service scandal. 

Anthony Waldron, an executive general manager in Mr Baird’s team, will act as chief customer officer of the consumer bank, subject to regulatory approvals, while NAB searches for a permanent replacement.

Mr Baird was elected the state representative for Manly in 2007, became NSW Treasurer in 2011, and NSW Liberal party leader and Premier in 2014. 

Warringah, the federal seat overlapping his old state electorate, was taken from the Liberal party at the 2019 election by Independent MP Zali Steggall. 

AAP