NAB axes consumer finance roles post Citi Australia retail integration
The big four bank is making cuts and changes to its consumer finance teams as it finally completes the integration of Citigroup's Australian retail business, which it acquired in 2022.
National Australia Bank has quietly axed one of its consumer finance teams as it finally completes the migration of Citigroup's Australian retail assets.
The big four bank is eliminating 14 roles within its personal banking division, including senior leadership figures, while more than a dozen other staff members will be redeployed within the bank amid ongoing consultation.
Impacted staff were told the news on Tuesday. The changes come as the bank finally finishes its integration of the Citi consumer business which was last signposted for completion in December — around six months behind the initial timeline it gave to the market.
NAB acquired Citigroup's Australian consumer banking business in June 2022 for $1.2 billion
