National Australia Bank announced plans to hire as many as 600 technology specialists as part of a restructure.
In a recent statement to the Australian Stock Exchange National Australia Bank (NAB) outlined plans to significantly simplify and automate processes and reduce procurement and third party costs. The bank is also planning to greatly reduce the number of products it sells, and the number of IT applications it uses.
In order to cater to the changing needs of customers, NAB will seek to immediately fill 600 newly created positions in software engineering, data, architecture and security, according to a recent press release from the bank.
Wholesale Job Cuts
NAB has already made two new appointments to get the technology initiative underway, hiring former HSBC digital CIO Yuri Misnik as executive general manager business enabling technology and ex-Scotiabank technology expert Kyle McNamara as executive general manager of program management office. Misnik will lead all business-facing technology teams, while McNamara will oversee NAB’s streamlining of franchises.
NAB posted a 2.5 percent rise in its full year profit to A$6.64 billion and unveiled a three year A$1.5 billion investment plan to focus on automation and technology, finews.asia recently reported. Part of the new strategy will see the bank shed up to 6000 jobs over the next three years, as it transitions into the digital era.
