National Australia Bank's (NAB) recently replaced chief information officer Michelle Tredenick who will officially leave the bank in July, NAB spokespeople confirmed today.
NAB CIO Michelle Tredenick
(Credit: NAB)
Tredenick, who the bank last month announced would be replaced by Adam Bennett, was ousted amidst a broader executive reshuffle following the appointment of Cameron Clyne as chief of the bank. Clyne had moved across to NAB from his role as chief of NAB's New Zealand arm, the Bank of New Zealand (BNZ).
However, the bank had not until today confirmed Tredenick's future.
At this week's half yearly earnings announcement, Clyne noted progress to NAB's $1 billion Oracle i-Flex based core systems replacement — a project kicked off by Tredenick in August last year.
NAB spokespeople said the bank "acknowledged the important contribution Michelle has made to transforming NAB's technology team and operations and leading the development of the group's IT strategy and strategy for the Nextgen program".
Despite replacing Tredenick, NAB has stuck to the course outlined by the CIO in August, with early efforts focused on NAB's Star Direct business, with the first product launched under it, UBank. Clyne this week said the deposit platform for UBank was on track to be delivered by June.
The replacement of Tredenick with Bennett, who had worked under Clyne at BNZ, also came just one month after Satyam's financial fraud was revealed, which resulted in NAB suspending further work with the Indian IT outsourcer. NAB is yet to announce an alternative to its cost-cutting plans in place prior to the Satyam scandal to offshore hundreds of mostly Melbourne-based IT roles to India with Satyam.
Clyne this week also gave an update on ServCo, an internal services company bank had launched in August 2008, headed up by Glenn King. A spokesperson confirmed King was heading up ServCo. King held a key operations role at NAB's UK operations, Yorkshire Bank, where he headed up modernisation and integration projects with its Scottish-based bank, Clydesdale.
Bennett formally commenced in the lead technology role at NAB on 14 April 2009.
any word on how much money NAB is having to pay Tredenick to go away...she would have quite the case against them. and where will she turn up...i bet she gets a well-paying gig at PWC or Accenture? hmmm, sounds like same deal and same unfortunate career path as diane sias...australian banking sure is sexist.