NAB announces new digital hires

13-Nov-2017

By Sarah Kendell

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National Australia Bank (NAB) has announced it will immediately hire 600 new staff in growth areas such as software, data and security, following the announcement earlier this month that the bank would shed 18 per cent of its workforce by 2020.

In a statement, NAB chief technology and operations officer Patrick Wright said the bank would recruit both nationally and internationally to find the best available candidates in the digital and technology space.

“We want the top talent in the industry to come and join us, as we change dramatically to become the very best bank we can be and give our customers the products and services they demand and deserve,” he said.

“We know this is an ambitious target and acknowledge the war for talent is intense, but these are essential skills and roles we need in order to deliver our plan.”

Wright said the new hires would be part of the bank’s $4.5 billion investment over the next three years, which was flagged during NAB’s full year results announcement earlier in November along with the news that 6000 jobs in legacy areas of the bank would be cut by 2020.

“This significant investment will help change the way we provide technology services, which is critical to delivering more effectively to balance innovation with resilience and speed with security,” he said.

“Our people are integral to the success of NAB and this investment ensures they are enabled and backed to deliver their very best.”

In other recruitment news, fund manager Perennial Value Management has announced the promotion of two key staff to new roles within the firm.

The fund manager said senior investment executives Grant Oshry and Andrew Smith had been promoted to head of mid caps and head of small and micro caps respectively.

Perennial managing director John Murray said Oshry and Smith each had a long history of successful asset management at the firm and the roles would bring them new career opportunities.

“Perennial Value has a track record of developing and retaining valued investment team members and delivering outperformance to investors,” he said.

“Today’s announcements build on that heritage.”

He added that Oshry had successfully led Perennial’s small cap business since 2007, and that Smith would now take over his role while also leading the fund manager’s expansion into micro cap asset management.

“We believe there are significant niche opportunities for active management in each of the ex-top 20, small and micro cap sectors of the Australian market,” he said.

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