Former investment banker Carolyn Kay and media executive Christine Fellowes have joined the NAB board as independent non-executive directors. Kay’s executive career included jobs at JP Morgan and Morgan Stanley. Her current boards include Scentre Group, the Foreign Investment Review Board and Myer Family Investments. Fellowes was, until recently, managing director of NBC Universal Media. Kay and Fellowes will replace directors David Armstrong and Peeyush Gupta, who will stand down following the bank’s annual general meeting in December.

 

Payments company Tyro has settled a class action that came about as a result of an extended outage in January 2021. Close to 20 per cent of its merchant customers were fully affected and another 10 per cent partially affected by a terminal connectivity problem that went on for weeks. The Federal Court approved a settlement on Friday. The terms of the settlement were not disclosed and Tyro made no admission of liability.