NAB poaches Steel as it leans into GenAi
National Australia Bank has appointed Lloyds Banking Group’s Pete Steel to a newly created executive position that will oversee its digital, data and artificial intelligence operations, as the lender seeks to sharpen its technological focus.
Mr Steel, who is currently managing director of customer channels for Lloyds in London, will join NAB in January 2026, subject to regulatory clearance. He will report directly to chief executive Andrew Irvine.
The new role combines responsibility for several of the bank’s key digital capabilities, including customer onboarding, data platforms, AI development and ubank, NAB’s digital-only banking arm. The position is expected to serve as a focal point for the bank’s efforts to enhance customer engagement through technology.
Mr Irvine said the appointment reflected the importance of aligning digital and data innovation with customer priorities. “Digital, data and AI are critical enablers for delivering on our ambition of customer-centricity,” he said.
Mr Steel’s background includes senior roles at Commonwealth Bank of Australia, where he spent more than 16 years, including a term as group chief digital officer. He subsequently founded the fintech firm Expertli and held an advisory role at Boston Consulting Group, before joining Lloyds in 2023.
The decision to establish a dedicated executive function for digital, data and AI follows growing industry emphasis on the role of artificial intelligence in operational efficiency and customer service. Financial institutions are under increasing pressure to demonstrate how emerging technologies can improve productivity while meeting ethical and regulatory expectations.
Mr Steel’s appointment comes as NAB is named in a recent Accenture report as an early adopter of generative AI in customer service. The bank has attributed its success in part to delegating AI use case development to business units rather than centralised technology teams.
Les Matheson, NAB’s chief operating officer, said last year that technology investments should be measured by tangible outcomes, such as time savings and improved service delivery, rather than novelty. He will continue to oversee several of the bank’s major strategic programmes, including payments modernisation and enterprise simplification.
Mr Steel is expected to work closely with both digital and business leadership to further integrate data-led decision making across NAB’s operations.
