Get back to thinking about banking as a profession: NAB's new COO

Mar 8, 2021 – 12.00am
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National Australia Bank’s new chief operating officer Les Matheson is urging bankers to consider themselves members of a profession and says the industry’s traditional focus on shareholder returns, rather than ensuring products are right for customers, was a damaging misstep.
National Australia Bank’s Les Matheson: “Fifty years ago in villages and towns, you had a lawyer, you had a doctor, and you had a banker.” 
At an event hosted by FINSIA late last week, he accepted more is expected from banks and lenders are obliged to make sure products are not being misused, and that customers were no worse off for using them.

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