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National Australia Bank names Ian Saines as next chair

By Reuters News

Nov 9 (Reuters) - National Australia Bank NAB.AX on Monday named former Macquarie Bank director Ian Saines as chair-elect and non-executive director.

NAB, Australia's top business lender, said Saines will be replacing the current chair, Philip Chronican, who will stand down from the board after 11 years with the bank.

Here are some details:

  • Saines will join NAB board in March 2027 and will become chair later in July

  • Saines had been independent voting director of Macquarie Bank since 2022

  • His experience in the financial services industry includes senior roles at Commonwealth Bank of Australia CBA.AX and investment manager Challenger CGF.AX

  • Saines spent almost a decade at CBA, the country's top lender, with five years as Group Executive, Institutional Banking and Markets, reporting to the CEO

  • Saines will be nominated for election by shareholders at NAB's annual general meeting in December 2027, the company said in a statement

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