January 25, 2021

NAB poaches outgoing RBS exec Matheson as new COO

National Australia Bank (NAB) has appointed former RBS chief executive, Les Matheson, as its new chief operating officer.

Les Matheson will join up with NAB in January 2021

Matheson’s responsibility will focus on NAB’s group marketing, corporate affairs, and strategic initiatives. He will join the bank on 11 January 2021.

Prior to joining the Australian bank, Matheson spent 11 years at RBS. Joining as managing director for retail products in 2010, he left as UK CEO for personal and business banking.

He announced his intention to leave the bank in October 2019, according to Sky News sources. His departure is part of RBS chief executive Alison Rose’s leadership shakeup.

Matheson’s spent much of his early career in Australia. He worked as Citibank’s retail CEO in the country for six years between 2002 and 2008. He also spent five years as deputy chairman of the Australian Bankers Association (ABA).

“Les is a globally experienced banker and I am very pleased he is joining NAB,” NAB CEO, Ross McEwan, says.

“The experience and the strong leadership Les brings will be important as we look to grow our bank safely and earn the trust and respect of customers and the broader community.”

NAB recently signed a multi-year cloud deal with Microsoft, part of a migration of 1,000 applications into a hosted environment.

The bank also launched a new no-interest credit card to compete with the rise of buy now pay later (BNPL) competitors in the Australian market.

Related: TransferWise nabs Australian banking licence from APRA