NAB Group today announced the appointment of Kanishka Raja as Chief Executive Officer of its digital-bank subsidiary, Ubank, effective immediately.

Mr Raja is an experienced banking executive, with significant leadership experience in banking strategy, data-led innovation and business performance, and a deep understanding of the evolving needs of digitally savvy banking customers.

Ubank Chair and NAB Chief Operating Officer, Les Matheson, said Mr Raja’s appointment marks an exciting new chapter for the digital bank.

“Kanishka is a highly capable and dedicated leader with a passion for innovation and customer experience. His leadership will be instrumental as Ubank continues to scale and deliver simple, smart banking for Australians,” Mr Matheson said.

Mr Raja succeeds Philippa Watson, who departed in June this year. Prior to his appointment, Mr Raja had been a member of the Ubank leadership team for four years, leading the Home Lending business before leading the Everyday Banking, Growth and Data & Analytics teams. Previously, he held a range of leadership roles with Commonwealth Bank spanning strategy, performance, data and analytics. Prior to this, Mr Raja spent several years with Boston Consulting Group.

“I’m honoured to lead Ubank at a time when digital banking is reshaping how Australians manage their money,” Mr Raja said. “Ubank’s commitment to simplicity, transparency and customer-first innovation is what drew me here, and I look forward to working with the talented Ubank team to build on the momentum we have created.”

From January 2026, Mr Raja will report to Pete Steel, NAB Group Executive of Digital, Data & AI, when Pete joins NAB Group.

Ubank has recently celebrated key milestones including the roll-out of smart money management features via the app, launching passkeys for app-based banking, and automating home lending. Mr Raja’s appointment reinforces the bank’s strategic focus on the customer and digital innovation to help young Australians do better with money.