And what higher technique than to comply with within the footsteps of Ross McEwan, who resigned as head of Commonwealth Bank’s sprawling huge retail operations in Could 2012, after shedding out within the two-horse race for the bank’s prime job to Ian Narev?
Apparently, Lindberg, who labored beneath McEwan in CBA’s retail space, can be transferring into the identical job that McEwan took some eight years earlier.
McEwan himself initially joined RBS as head of retail banking (the place he was changing Brian Hartzer, who was returning to Australia to take a senior job at Westpac), earlier than being appointed as chief government of the UK taxpayer-owned bank in October 2013.
Not surprisingly, it was McEwan that Nationwide Australia Bank turned to when it desperately wanted a seasoned bank chief government to regular the ship after the shock departures of CEO Andrew Thorburn and chairman Ken Henry, following the stinging criticism each acquired within the ultimate report of the Hayne royal fee.
Apparently, Lindberg’s new job has simply been vacated by one other Australian, Les Matheson, who’s returning to Australia.
For months, hypothesis has been swirling in banking circles that Matheson can be taking over a senior place within the McEwan-led NAB, both as the top of enterprise banking, or to drive the Melbourne-based bank’s push into digital banking by its UBank operation.
The concept of Matheson spearheading NAB’s digital banking initiative was bolstered by feedback from RBS chief Alison Rose, who famous that Matheson had accelerated the transition of the bank’s clients from bodily to digital, to the purpose the place it now had greater than 7 million clients repeatedly utilizing its cellular app.
There are, after all, good explanation why bankers discover it comparatively straightforward to change jobs between Australian and British banks.
The UK banking system has comparable regulatory guidelines and an identical business construction.
What’s extra, each Australian and British bankers now should content material themselves with incomes a small fraction of the huge salaries pocketed by their US friends.
Rose, appointed CEO of RBS following McEwan’s resignation, earns a wage of £1.1 million ($2.06 million), plus £1.1 million in shares and £26,500 in different advantages – leaving her base pay at simply over £2.2 million a yr. She can be eligible for an annual bonus in shares worth as much as 175 per cent of her wage.
In distinction, Westpac is paying Peter King a base wage of $2.four million, however he’s additionally eligible for as a lot as $9.2 million together with short- and long-term bonuses.
The writer owns shares within the main banks.