Banking Review

Another senior departure at UBank

NAB direct banking arm UBank has shed another key staff member with the sudden departure of head of online Monty Hamilton. After 13 years with NAB, including 3 with UBank (since its inception under the Star Bank project), Hamilton will finish up on Friday.

Hamilton’s departure comes on the back of UBank general manager Gerd Schenkel’s exit in early May.

Hamilton was a potential successor to Schenkel, however a spokesperson for the bank confirmed it continues to conduct an internal and external search for a new general manager of UBank.  UBank head of strategy Alex Twigg remains in the acting GM role.

Just one month ago Hamilton and Twigg took to the stage at Finovate in San Francisco, spruiking the bank’s streamlined online account opening process, and the launch of an application that allows UBank customers to view their account information on social media websites including Facebook. It was the first time a bank had appeared at the twice-yearly financial innovation event.

NAB recently restructured its personal banking division, announcing plans to bring together the UBank, nabbroker and Advantedge businesses to form a “challenger” group which is yet to be named.

The bank is also continuing its search for an executive general manager to head up the new “challenger” business portfolio.