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  • Former AMP chair Simon McKeon is joining NAB's board as a non-executive director
  • Simon will provide insight across the financial services, law, government, education and charities sectors
  • Simon is currently Chancellor of Monash university and is on the board of Rio Tinto
  • In 2011 he was awarded Australian of the Year
  • Following news of the new appointment, the bank's share price is up just over half a per cent
  • Shares in NAB are trading for $25.61 at Monday's market close

Former AMP chair Simon McKeon is joining NAB's board as a non-executive director. The banking giant's Chairman, Philip Chronican, made the announcement to the Australian market today, detailing the position will be effective from February 3.

Philip outlined Simon will provide perspective across a number of areas including financial services, law, government, education and charities.

"My fellow directors and I are delighted Simon has accepted our invitation to join the board and look forward to the insights that he will bring from a range of sectors," Philip said.

Simon acknowledged the "well-founded criticism" NAB has been subject to in recent years, and said he looks forward to work on bettering the bank's operations.

According to Simon, "joining NAB as a director gives me an opportunity to assist the improvement process from the inside, while supporting the bank's ambitions at a time of seriously enhanced competition."

Simon is currently the Chancellor of Monash University in Melbourne and is a non-executive director on the boards of Rio Tinto and Spotless group.

Prior to this, Simon was at Macquarie Group for 30-years where he held position of Executive Chairman for the Melbourne offices. He has also been a non-executive director and chairman for MYOB Limited and AMP, as aforementioned.

Additionally, Simon has served as chairman of rhe Commonwealth Scientific and Industrial Research Organisation (CSIRO) and was the founding president of the Australian Takeovers Panel.

In 2011, Simon was named Australian of the Year, and in 2012 he was named an Officer of the Order of Australia for his "distinguished service to business and commerce through leadership and advisory roles, and to the community as a supporter of national and international charitable, educational and sporting organisations."

Following news of the new appointment, the bank's share price is up just over half a per cent. Shares in NAB are trading for $25.61 at Monday's market close.


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