Baird eclipsed Cook’s rise to the top at NAB

Sharon Cook’s appointment to one of the most senior positions available to lawyers was slightly overshadowed.

Sharon Cook will help NAB respond to the public criticisms of the banking industry “in a more overt way”.

When Sharon Cook’s decision to leave King & Wood Mallesons became public, her appointment to one of the most senior positions available to lawyers was slightly overshadowed.

Ms Cook is National Australia Bank’s new chief legal and commercial counsel, a role that is broader than general counsel yet still makes her the bank’s most senior lawyer.

However, many might have missed the significance of her ­appointment because it came on the same day the bank announced former NSW premier Mike Baird would be its chief ­customer officer, corporate and institutional banking.

Ms Cook comes to the new role after 25 years as a litigator and long periods running law firms — most recently at King & Wood Mallesons where she was managing partner, clients; and before that as managing partner of Henry Davis York.

“I have always had the view that litigators are uniquely placed to be general counsel because they have covered so many areas of law and have a good understanding or risk and context,” Ms Cook said.

The other part of her role, commercial counsel, is intended to give her even greater influence within the bank.

She said NAB chief executive Andrew Thorburn had been keen for her to take on this added responsibility “because he wants me to help him, and the rest of the executive legal team, change the culture at NAB and respond to the public criticisms of the banking industry in a more overt way”.

“Andrew’s vision is for NAB to be the most respected bank in Australia and New Zealand; we want to be doing the right thing by our customers and he wants me to come and help him do that,” she said.

Ms Cook believes her role at K&WM, which focused on the firm’s clients, meant she was well prepared for her new role.

“K&WM sought me out because of my ability with clients, developing relationships and client strategies. So that should be of considerable assistance in changing the culture of the bank for the benefit of its customers.”

Ms Cook said her experience in running major suppliers of legal services meant some might see her new role as an example of “poacher turned gamekeeper”.

In her previous positions, she said she had been focused on providing value to corporate clients and now she would be in a position to implement the same goal from a corporate perspective.

“A lot of law firms talk about understanding the client and delivering value to clients, but I am not sure that they all really, truly and genuinely do.

“I am going to be looking for law firms that will genuinely partner with the business, buy into Andrew’s vision for NAB and help us achieve what we need to achieve for our customers,” Ms Cook said.