Andrew Thorburn

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Andrew Thorburn (born 13 April 1965) is an Australian-based businessman and a former CEO of Bank of NZ (BNZ), and also of National Australia Bank (NAB).[1]

Early life[]

Thorburn was born in Melbourne and is a dual Australian-NZ citizen. His mother is a New Zealander.[2]

Banking career[]

Thorburn joined ASB Bank in AUCKLAND, NZ in 1986. He moved to Sydney to join the Commonwealth Bank of Australia in 1997, and then joined St George Bank in 2002. He moved to NAB in January 2005 as Head of Retail Banking. In 2008 he was appointed to be CEO of BNZ, and in 2014 the CEO of NAB.[1]

At NAB he moved to divest of non core assets[3] and focus on Aust/NZ. He launched a transformation of NAB in 2017 involving greater investment in technology, a reduction in costs, and an investment in business banking.[4][5]

The period overlapped with the Royal Commission into Misconduct in the Banking and Superannuation industry. Thorburn resigned from NAB in February 2019 after the final report of the Royal Commission. At the time, he said “As CEO I understand accountability. I have always sought to act in the best interests of the bank and customers and I know that I have always acted with integrity. However, I recognise there is a desire for change”.[6]

Beyond Banking[]

As of February 2020, Thorburn was “exploring a number of areas of potential future involvement, including supporting entrepreneurs, venture capital and impact investing, and enabling purpose drive companies with growth ambitions”.[7] Thorburn took up a role as executive director at For Purpose Investment Partners,[8] a social impact funds manager in 2020. In April 2021 it was announced that he was working at Impact Investment Group in a part time executive capacity[9] for a few months, but also that he was the Chair of Catalyst Education (acquired by For Purpose), and was also confirmed as a senior advisor at BCG, and is the Board Chair at ATMOS Financial, a U.S climate fintech startup.

Education[]

Thorburn holds a Bachelor of Commerce (Economics) from the University of Auckland, and an MBA from the University of Durham, UK. He is a Fellow of the Australasian Institute of Banking and Finance.[1]

Personal[]

Thorburn has been married to his wife Kathryn (also a Kiwi) since 1987, and they have 3 adult children.[10] He has spoken openly about his Christian faith.[5]

References[]

  1. ^ a b c "NAB Announces the Retirement of Cameron Clyne".{{cite web}}: CS1 maint: url-status (link)
  2. ^ "NAB's low-profile CEO pick, Andrew Thorburn, surprises market". Australian Financial Review. 2 April 2014. Retrieved 29 February 2020.
  3. ^ "National Australia Bank's Andrew Thorburn gets to grips with his to-do list". Australian Financial Review. 11 June 2015. Retrieved 29 February 2020.
  4. ^ "NAB 2017 Financial Results" (PDF).{{cite web}}: CS1 maint: url-status (link)
  5. ^ a b "Banking royal commission isn't the only fire under NAB chief Andrew Thorburn". Australian Financial Review. 12 July 2018. Retrieved 29 February 2020.
  6. ^ "CEO and Chairman to leave NAB | NAB News". Nab. 7 February 2019. Retrieved 29 February 2020.{{cite web}}: CS1 maint: url-status (link)
  7. ^ "Once Were Bankers Haynes Reinvent Themselves After Royal Commission". The Australian. Retrieved 16 June 2020.{{cite web}}: CS1 maint: url-status (link)
  8. ^ "What Andrew Thorburn is doing now". Australian Financial Review. 8 March 2020. Retrieved 19 April 2021.
  9. ^ "Thorburn joins IIG to assist in leadership reorganisation". industrymoves.com. Retrieved 19 April 2021.
  10. ^ Wilkins, James Eyers, Joyce Moullakis and Georgia (3 April 2014). "NAB surprises market by naming Andrew Thorburn as next CEO". The Sydney Morning Herald. Retrieved 16 June 2020.


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