NAB poaches CommSec veteran Tom Piotrowski to fix brand after trading platform backlash
NAB has defended its updated trading platform against scathing reviews as it brings in a Commonwealth Bank veteran to rebuild its brand.
NAB has defended its updated trading platform against scathing reviews as it brings in Commonwealth Bank veteran Tom Piotrowski to rebuild its brand.
The new nabtrade desktop website has been labelled as “appalling” and “horrible” with customers threatening to switch their accounts to other providers.
Nabtrade is the bank’s rival to CBA’s CommSec, which Mr Piotrowski has been promoting for decades in regular sponsored television appearances.
He will join NAB in January to promote share trading and is likely to continue to provide market updates in the same way he did for CommSec.
Mr Piotrowski will join Gemma Dale, NAB’s Self Managed Super Fund and Investor Behaviour director, who has her own podcast called Your Wealth and regularly provides media analysis.
NAB confirmed that it had emailed clients about the changes to nabtrade last month, saying the “redesigned the desktop experience to give them more visibility, control and capability.”
“We’re listening closely to client feedback to shape further enhancements and some of the most recent desktop experience updates are a result of client suggestions,” nabtrade Executive, Hannah Oakhill said.
It comes after users reacted to the changes online.
“The new platform is both terrible and an absolute kick in the guts to its users, thanks NAB for your amazing effort at crapping on your customers,” a Queensland customer wrote.
A New South Wales user said: “I tried the beta version of the new website and gave the NAB feedback that I found it unusable and would be moving my $500,000 portfolio to another trading platform. Well now it’s finalised and it’s just appalling.”
Another said: “Horrible. obviously designed by someone who does not trade or invest. They haven’t taken a step forward, they have taken 100 steps backwards.”
Westpac, ANZ, CBA and NAB compete fiercely for online share trading customers, with international brokerage platforms also snaring savers’ cash.
Ms Oakhill said NAB was offering one of the highest interest rates for savers to park their money in between trades.
“The number of net new trading accounts in the past year increased 45% on the previous year.
“We’re continuing to invest in capability, people and service to deliver for nabtrade clients. “Our recent announcement about Tom Piotrowski joining nabtrade in January and the new nabtrade platform are examples of this.”
Mr Piotrowski has been a fixture on free to air television for 24 years in his CommSec role which were included as part of news programs.
His appearances in news programs became a talking point when he grew a beard in 2013, sparking Facebook groups set up dedicated to his “caveman” style.
Mr Piotrowski, who studied at the University of Newcastle, will also be working in NAB Private Wealth, advising high-net worth individuals.
NAB has also signed up his colleague at CommSec, Nik Kritikos, with NAB Private Wealth Executive Michael Saadie saying the hirings “reflect our ongoing investment in nabtrade.”
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Originally published as NAB poaches CommSec veteran Tom Piotrowski to fix brand after trading platform backlash
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