Baird to front Liberal fundraiser despite NAB’s bipartisan policy

NAB’s head of consumer banking Mike Baird is set to speak at a NSW Liberal Party fundraiser ahead of a state election.

Former NSW premier Mike Baird. Picture: Christian Gilles

National Australia Bank’s head of consumer banking Mike Baird is set to speak at a NSW Liberal Party fundraiser ahead of a state election, despite the engagement coming as the finance sector reels from the fallout of the Hayne royal commission.

The Australian can reveal that Mr Baird will headline a February 4 boardroom lunch for NSW Treasurer Dominic Perrottet at Deloitte’s Sydney offices. A letter promoting the lunch put the cost for a seat at the table at $1500 and said a $500 donation was “optional”.

The appearance by Mr Baird will come just days after royal commissioner Kenneth Hayne submits his landmark final report on the banking royal commission, due by February 1.

NAB has confronted its fair share of scandals in the commission hearings, including rorts in its mortgage introducer program and charging advice fees to dead customers.

“The election is less than 100 days away and the result will determine the future of our state. As you know, I’m a candidate for the seat of Epping, and I would be very thankful to receive your support,” Mr Perrottet said in his invitation, also making a pitch for additional donations.

“On Monday, 4 February, Allan Mills of Deloitte will be hosting a boardroom lunch fundraiser with former premier of NSW, Mike Baird.

“I would love it if you could attend, and possibly make an additional donation to my campaign for Epping, to ensure that our state’s economy remains in safe, experienced hands.”

The email, which cited limited places available at the function, was sent by Mr Perrottet yesterday.

Mr Baird — who is often touted as a potential successor to NAB chief executive Andrew Thorburn — joined NAB in April 2017 as chief customer officer of the corporate and institutional banking division. Mr Baird was the 44th NSW premier before returning to the banking sector.

Sources said Mr Baird was not being paid and had not made a donation ahead of appearing at the NSW Liberal party event.

However, his decision to roll his sleeves up for the Liberal party comes as NAB seeks to appear bipartisan.

NAB chairman Ken Henry made that clear when he was asked about the bank’s potential contribution to the political debate as several elections neared, including a federal poll in 2019.

“Whether the bank will seek to involve itself in, essentially, a political discussion or political debate prior to the election — it’s not our intention to do so. It’s not,” he said.

“We think it better for us to represent the interests of our shareholders and our customers to politicians in different ways. So no, it’s not our intention to contribute to a public advocacy campaign on any particular issue of government policy. That doesn’t mean that we won’t be talking to ­people.”

While other banks still make donations to political parties, in 2016 NAB ceased making them at the Commonwealth, state and local government level.

Mr Baird’s decision also comes at an interesting time for NAB as Mr Thorburn remains on a period of extended leave, which has spurred debate about how long he’ll remain at the helm.

Mr Thorburn said he needed a “recharge” when he told senior managers last month that he would take the bulk of January and February off. He is returning to the bank for several days late this month to help formulate its response to the Hayne royal commission.

NAB was also hit by a record strike against its remuneration report at its annual general meeting after investors weren’t satisfied that executives had taken enough of a hit to their pay to make them accountable for misdeeds exposed at the royal commission.