In an announcement made via his personal LinkedIn page, the CEO of 86 400, Robert Bell, confirmed he will be stepping down in the new year with “an enormous amount of pride in what the team have been able to build together”.
“With NAB’s full support and Ubank/86 400 coming together next year, I’ll be following the future success from the sideline,” Mr Bell confirmed.
Mr Bell will be replaced by Philippa Watson, chief executive of UBank, who has been appointed CEO across both businesses.
The changes coincide with the transfer of 86 400’s banking business onto NAB’s licence, just months after the big four purchased the neobank for $200 million.
NAB declared its intentions to buy the two-year-old 86 400 in January, with plans to merge the neobank with its own digital subsidiary, UBank.
