Ubank CIO officially retires

NAB-owned ubank has farewelled its chief information officer Brian Parker, who has retired from the industry after 45 years.

Parker announced this week he was “happy to share that I’m starting a new position as retiring CIO” on his LinkedIn.

Parker is one of the founding members of the former neobank 86 400, which NAB bought in 2021 and folded into its ubank division.

At the time, Parker stated his desire to retire in 2023 following the unification of ubank and 86 400.

Ubank held an in-house retirement celebration last week for Parker.

CEO Philippa Watson farewelled Parker while also welcoming new CIO Mihir Mehta.

“Over his career, Brian has made a significant impact on the technology, businesses and careers he has shaped,” Watson said.

“Equally, we are delighted to have Mihir Mehta who joined ubank as chief information officer in May 2023 and worked with Brian on a smooth transition over several months.

“Mihir is an excellent leader and technician, who mirrors Brian's passion for leading edge technology.

"Mihir combines strong leadership experience with an enthusiasm for software development and engineering.”

Speaking on his new role, Mehta said ubank had “reached a major milestone by completing the migration of customers onto new technology to improve the customer experience". 

“We are now working off a modern technology platform with very few legacy systems,” Mehta said.

“I’m proud of what we have achieved and I am excited for the future. I look forward to leading the ubank tech team, partners, and systems to ensure we can innovate fast to present payments, savings, everyday banking, and lending options to customers, and deliver on our goal of being Australia’s leading digital bank.”

Parker expressed his confidence the ubank team “will continue its great work” upon his retirement.

Before joining ubank as CIO, Mehta was the senior vice president for FNZ, a global technology platform for the wealth management sector for close to a year-and-a-half.

He also has prior experience working with NAB as CIO of its business and private bank and is also one of the bank's former chief engineers.

Mehta also holds global financial industry experience with positions at British bank Barclays as well as at PayPal.