NGM Group has named internal candidate James Cudmore (pictured left) as its next chief executive following a market-wide search, with Bernadette Inglis (pictured right) set to step down in early 2027 after more than seven years leading the customer-owned bank and its predecessor, Newcastle Permanent.
Cudmore, currently the group’s chief customer and digital innovation officer, was chosen by the board with support from an independent executive search firm. The appointment will now go through the regulatory process.
Cudmore joined Newcastle Permanent in December 2019 as chief customer and product officer, moving into his current role when the merger with Greater Bank took effect in March 2023. His portfolio now covers customer, product, digital, marketing, corporate affairs, community, and sustainability.
“James knows NGM Group, our customers and our communities deeply, and brings more than 20 years of banking experience in Australia and the UK,” said NGM Group chair Darren Turner, who was appointed in January to succeed Samantha Martin-Williams.
Turner pointed to Cudmore’s more recent work on customer proposition, digital product development, pricing, and multi-brand strategy.
Cudmore said his decisions would be guided by the people the group serves, adding that “every decision I make will start with what’s right for our customers and communities.”
Inglis became Newcastle Permanent’s CEO in 2019 and steered its merger with Greater Bank, becoming NGM Group’s founding chief executive.
Since the merger, the group has lifted both home lending and customer deposits by more than 20%, and total assets have reached a record $25.1 billion, up from $23.1 billion in FY25. NGM Group now ranks among Australia’s largest and best-capitalised customer-owned banks.
The group has also been leaning on brokers, with chief financial officer Richard Burton describing, describing the third-party channel as an important source of growth when the group completed a record $500 million debt issue in January.
Turner said Inglis would leave the business well positioned, with record investment in technology and community programs, branch upgrades and a new head office in the Hunter in progress. He thanked her for her “exceptional leadership through a period of significant change and growth”.
Inglis will remain on the board and work alongside Cudmore over the coming months to ensure continuity for customers, staff, and stakeholders, before turning her focus to board and advisory roles.
She said she was proud of how staff had maintained the trust built by both brands, adding that the group would be “in excellent hands with James”.
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