NAB appoints Ian Saines as Chair-elect
National Australia Bank (ASX: NAB) has appointed Ian Saines as a Non-Executive Director and Chair-elect, according to an ASX announcement dated 9 November 2026. The appointment is subject to regulatory approval.
Mr Saines will join the Board in March 2027 and become Chair in July 2027, replacing Philip Chronican. Mr Chronican will stand down from the Board after 11 years with NAB, including eight as Chair.
Key facts from the announcement:
- Board joining date: March 2027
- Chair start: July 2027
- Outgoing Chair: Philip Chronican, 11 years on the Board, eight as Chair
- Election: Mr Saines will be nominated for election by shareholders at NAB’s annual general meeting in December 2027
The announcement describes Mr Saines as a long-serving financial services leader with extensive experience in Australian commercial and investment banking, financial markets and asset management across major Australian and international organisations.
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Who is Ian Saines?
Mr Saines has built a career across financial services and related industries, primarily in Australia with frequent international market responsibilities. His executive background includes:
- Commonwealth Bank: a senior leader from 2004 to 2013, including five years as Group Executive, Institutional Banking & Markets, after five years as Executive General Manager Institutional Banking
- Challenger Limited: Chief Executive, Funds Management from 2015 to 2019, when Challenger had AUD$80 billion funds under management
- Zurich Capital Markets Asia: Managing Director and Co-Founder
- Bankers Trust Australia: 15 years, most recently as Executive Vice President and Co-Head, Global Metals and Mining Industry Group
He retired from full-time executive positions after leaving Challenger in 2019. He holds a Bachelor of Commerce (Economics) with first class honours from the University of New South Wales and is a Fellow of the Australian Institute of Company Directors.
Current and past board roles
Mr Saines was a Director of Macquarie Bank from 2022 until his resignation to join the NAB Board. He has been a Director of NSW Treasury Corporation since 2020, and Chair of its Board Investment Committee since 2024.
He has also been Deputy Chair of the United States Studies Centre since 2020. Previously, he was a Director of NYSE-listed Air Lease Corporation for 16 years until April 2026.
Why the Board chose him
Mr Chronican said Mr Saines brings knowledge of financial services from several angles.
Philip Chronican
“Ian is well placed to lead the NAB Board given his deep knowledge of financial services from the perspectives of major Australian and international finance and wealth organisations…”
The Board’s stated rationale is a focus on ensuring “deep banking experience on the Board to lead NAB through an uncertain period for the industry and the country.” Mr Chronican also said it is vital that the Board has balance and breadth across Directors, and that Mr Saines has worked in different components within the financial services industry.
The incoming Chair inherits a bank whose earnings picture is mixed, as NAB’s FY26 results showed reported cash earnings depressed by large one-off items while business lending and proprietary home loan growth continued.
Mr Saines said he was humbled to assume the Chair role. On NAB’s position, he said:
Ian Saines
“NAB is an important contributor to the Australian economy as the largest business bank in the country and a major supporter of consumer customers…”
His stated priorities include:
- Supporting Andrew Irvine as CEO and the senior leadership team
- Addressing challenges NAB faces from within the industry, new entrants and new technologies
- Reinforcing NAB’s need to be customer obsessed
Chronican’s legacy
Mr Chronican joined the Board in 2016 and was acting Group Chief Executive Officer from February to November 2019, after which he assumed the Chair role. According to the announcement, he has more than 40 years of Australian banking experience and is the longest-serving current Chair of a major Australian bank.
Leadership transition timeline
The announcement sets out three stages for the handover:
- March 2027: Mr Saines joins the Board as a Non-Executive Director, subject to regulatory approval.
- July 2027: Mr Saines becomes Chair, and Mr Chronican stands down from the Board.
- December 2027: Mr Saines is nominated for election by shareholders at NAB’s annual general meeting.
The sequence gives the Board several months between Mr Saines joining as a Director and taking the Chair.
The Chair change follows other senior moves at the bank, including the internal promotion of Connie Sokaris as Group Chief Risk Officer, a 23-year NAB veteran who took over from the retiring Shaun Dooley.
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