logo
NAB Bets New Business Chief Will Fend Off Competition

NAB Bets New Business Chief Will Fend Off Competition

Bloomberg18-03-2025

National Australia Bank Ltd. is confident that a leadership change in its prized business banking division will fend off increasing competition from local rivals, its chief executive said.
NAB announced Monday that Andrew Auerbach will head up business and private banking, replacing Rachel Slade. 'We're continuing to invest in our leadership position because we know that it's competitive out there and that's one of the reasons that I brought Andrew Auerbach back in,' NAB Chief Executive Officer Andrew Irvine told the Australian Financial Review Banking Summit in Sydney on Tuesday.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Millennial reveals huge money reality facing nearly one million Aussies: 'Better way to do it'
Millennial reveals huge money reality facing nearly one million Aussies: 'Better way to do it'

Yahoo

time2 days ago

  • Yahoo

Millennial reveals huge money reality facing nearly one million Aussies: 'Better way to do it'

A millennial has raised an alarm, especially for young workers, about the best way to save money. The 29-year-old Sydney resident said many Aussies think about savings the "wrong way". While millions have cut down or changed their spending habits to have more money left over, the AI worker said you should instead find more ways to make money. He believed that was the only true way to get ahead in this cost-of-living crisis. "I think that's probably the better way to do it," he told loan app Coposit in an impromptu street interview. "As opposed to maximising how much you can save, you should maximise how much you can earn." Side hustle shock as 'broke' Gen Z student earns $1,000 in a week Major Coles move to take on Chemist Warehouse, Bunnings, Amazon Centrelink payment change happening this week: 'Will increase' He added it's worth learning how to use AI to see if you could find more time in your day for a side hustle or other gig. "I think [AI] will change everybody's way of living and how they're doing things," he said. "If you're not doing it, like just trying to get good at AI, I think you're going to fall dangerously behind."Aussies have been able to pull in hundreds or thousands of dollars every week from side gigs when they're not at their main job. This could be recycling cans, refurbishing and reselling furniture, content creation, working in hospitality or retail, or affiliate marketing — the sky's the limit. NAB research from earlier this year found video editing, freelance writing, and gardening were the three most in-demand side hustles in 2025, with some paying up to $50 per hour. Aussie dad Frank Hoyt told Yahoo Finance he could earn roughly $4,000 extra per month painting and plastering homes. 'In general, the extra money is just good to be comfortable,' he said. Some have even been able to take on multiple full-time jobs on top of their main gig. One of these over-employed people told Yahoo Finance he's "easily hundreds of thousands ahead" thanks to having three full-time jobs at once. Indeed discovered 93 per cent of white-collar over-employed workers do their other full-time gig on their primary employer's time, with 65 per cent doing it regularly. Nine in 10 respondents said AI has been the game-changing factor in this trend. "The use of AI to manage multiple jobs highlights how technology is reshaping the workforce," Indeed's Sally McKibbin said. "However, the toll on workers' mental and physical health cannot be ignored. "Balancing two full-time jobs — regardless of technology efficiencies — is pushing many to their limits." The cost-of-living crisis has pushed many to their financial brink, and choosing to shop at a cheaper supermarket or cut down on fuel costs just won't cut it for many households these days. 'If you've got a mortgage, those repayments have increased quite a bit over the last couple of years so I suspect people have sought a second job just to reach the higher cost of living recently," SEEK senior economist Blair Chapman said. He revealed some are being driven to multiple jobs because their hours, and as a result their pay, is being cut at their main gig. A decent chunk of those with multiple jobs are aged between 20 to 24, with women more likely than men to have an additional gig. 'We are seeing more people being employed in industries where we tend to see a lot of multiple job holdings,' Chapman said. 'For example, we've seen healthcare and social assistance grow and that is one of the industries where multiple job holdings are most common. 'That comes down to the nature of the work, where you have shift work and one business may not be able to provide all the hours an employee wants so the individual has to work across multiple sites to get the hours they are desiring.'Sign in to access your portfolio

ASX extends run as it approaches highest
ASX extends run as it approaches highest

Yahoo

time7 days ago

  • Yahoo

ASX extends run as it approaches highest

Australia's stock market soared to within one per cent of a record high as investors factored in interest rate cuts and the Commonwealth Bank became the first Australian company to surpass the $300bn market cap. The benchmark ASX 200 index gained 75.10 points or 0.89 per cent to 8,541.80 points while the broader all ordinaries also finished higher up 79.30 or 0.91 per cent to 8,770.20. The Australian dollar slid 0.09 per cent and is now buying 64.56 US cents. Wednesday's trading was dominated by CBA, which saw Australia's largest bank pass $181 a share for the first time. VanEck senior portfolio manager Cameron McCormack said CBA's 'remarkable' rally continued as the major bank passed a $300bn market cap, thanks to weaker resources stock. 'Particularly offshore investors looking at the Australian market are more likely to prefer the local banks as they tend to outperform when resources underperform,' he said. 'We are not looking at a reverse of that trend.' But CBA was not alone, with Westpac shares also rallying 1.47 per cent to $33.10 even though ASIC made the decision to start legal proceedings against subsidiary RAMS for alleged systemic misconduct. NAB also jumped 1.07 per cent to $38.60 and ANZ rose 0.95 per cent to $29.64. On an overall positive day, nine of the 11 sectors finished in the green led by energy, consumer discretionary and financial stocks. Woodside Energy rose 2.89 per cent to $22.80, Santos gained 0.92 per cent to $6.59 and Yancoal Australia added 1.93 per cent to $5.29. Wesfarmers shares gained 0.59 per cent to $84.60, JB Hi Fi rallied 2.05 per cent to $112.24 and Harvey Norman jumped 2.98 per cent to $5.53. Australia's share market followed a late rally on Wall Street overnight on better than expected US job openings which showed businesses were looking for 7.4 million staff members in April. A strong lead in from Wall Street and worse than expected ABS data which showed Australia is back in a GDP per capita recession helped boost the local market. Mr McCormack said the market reacted positively to a GDP print showing economic growth of just 0.2 per cent for the quarter or 1.3 per cent for the year. 'The market is starting to price in more rate cuts on the back of some of the softer data coming through, including the weaker export data,' he said. In company news Virgin Australia announced plans to return to the ASX via a $685m initial public offering. The IPO priced at $2.90 per share and if the shares are fully subscribed will re-list at a market value of around $2.3bn. Japanese entertainment giant MIXI has upped its bid to buy Australian gambling company Pointsbet and is now offering $402m to take over the company. Shares in Pointsbet rallied 10.60 per cent to $1.20. Fashion-forward jewellery and accessories brands Lovisa announced a change in leadership with Mark McInnes moving into the role of executive deputy chairman. Shared surged 9.10 per cent to $32 on the announcement. DroneShield shares marched higher up 12.50 per cent to $1.58 on news the UK government is planning on spending GBP 2bn or $AU4.2bn to boost its drone technology in an effort to boost its military capabilities. Error in retrieving data Sign in to access your portfolio Error in retrieving data

Deakin University GIFT City Campus announces first successful placement cycle with National Australia Bank's India Innovation Centre
Deakin University GIFT City Campus announces first successful placement cycle with National Australia Bank's India Innovation Centre

Business Upturn

time02-06-2025

  • Business Upturn

Deakin University GIFT City Campus announces first successful placement cycle with National Australia Bank's India Innovation Centre

GANDHINAGAR, India , June 2, 2025 /PRNewswire/ — Deakin University's GIFT City campus has successfully concluded its first-ever placement cycle on 30 May 2025 , in collaboration with the NAB Innovation Centre, India , marking a historic milestone for both the university and India's higher education sector. This placement round was held for postgraduate students from the Master of Business Analytics. This placement cycle holds special significance as Deakin University's GIFT City graduates will be the first cohort of Indian students to receive a foreign university degree entirely in India , setting a benchmark in international education delivered locally. Mr. Vikas Malik , Executive Technology, NAB Innovation Centre India, said, 'The quality of talent from Deakin's GIFT City campus is truly exceptional. We were impressed not only by their technical proficiency but also by their ability to think critically and adapt to evolving business challenges. These students are not just industry-ready—they're innovation-ready, and we're excited to welcome them into our teams.' Prof. Deepak Bajaj , Academic and Campus Director, Deakin University GIFT City, shared, 'This is a proud and transformative moment for Deakin University and India . Our first placement cycle, led by a prestigious global partner like NAB, validates the international standards we uphold at GIFT City. Our students are proving that world-class education can be delivered and nurtured right here on Indian soil.' Students of the first cohort secured paid internships that will lead to placement for full-time roles upon graduation in NAB's Innovation Centre in India at Gurugram, Haryana. Of the 8 bright students selected, the roles were offered to 7 bright students of Business Analytics, including business performance, analytics, fin-crime analytics, and customer decisioning. David Das , Head of Campus Operations, Deakin GIFT City, added, 'The outcomes highlight the power of our industry-integrated academic model. The level of preparedness and maturity shown by our students throughout this process has made all of us at Deakin incredibly proud. It's just the beginning of many such success stories.' The NAB Innovation Centre India serves as a pivotal hub for global operations, emphasizing innovation and technological excellence. NAB is committed to building high-performing teams by recruiting individuals with strong technical acumen, analytical prowess, and a collaborative mindset. The hiring process is comprehensive and designed to assess both technical competence and cultural fit. Technical and management interview rounds follow the online coding assessment to gauge communication, motivation, and alignment with NAB's values. This meticulous process ensures that only candidates who meet NAB's high standards are selected to join their dynamic and forward-thinking team. Khushi Saraf , a Master of Business Analytics student who secured a dual (internship and job) offer, shared, 'The opportunity to work with NAB is more than just a job offer, it's a career breakthrough. Deakin's curriculum helped me master tools like Python, Power BI, and advanced analytics while also developing strategic thinking. I feel fully prepared to take on this global role.' About Deakin University GIFT City: Deakin University is the first foreign university to set up a physical campus in India , located at GIFT City, Gujarat. The campus offers cutting-edge postgraduate programs in Business Analytics and Cyber Security, tailored to the needs of a digitally transforming global economy. Deakin GIFT City aims to create global professionals equipped to lead in data-driven, secure, and intelligent enterprises. For queries and more information, please visit Photo: View original content to download multimedia: Disclaimer: The above press release comes to you under an arrangement with PR Newswire. Business Upturn takes no editorial responsibility for the same.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store