Former National Australia Bank (NAB) head of consumer banking and wealth, Andrew Hagger, has been appointed to run iron ore billionaire Andrew Forrest’s charity.

Hagger will serve as the inaugural CEO of the Minderoo Foundation and in Minderoo’s investment arm to bolster and deepen leadership capacity at the group. He was most recently responsible for driving customer growth and innovation at NAB.

Chairman and Co-Founder of Minderoo, Andrew Forrest, said Hagger is a “rare” leader who has combined his commercial career with a commitment to philanthropy.

“Minderoo has been a labour of love for both my wife Nicola and I, and we have built the foundations and culture carefully over a number of years to combine ethical local businesses with impactful philanthropy,” Forrest added.

Hagger has a long history of philanthropic leadership, including as Chair of the Olivia Newton-John Cancer and Wellness Centre Appeal, Founding Director of The Wheeler Centre in Melbourne and Senior International Advisor to Not for Sale.

On his appointment, Hagger said: “I am thrilled to have been given the honour of leading the Minderoo team at his key time in history.”

“I look forward to working with the team and in particular serving Andrew and Nicola Forrest whose vision for Minderoo is extraordinarily exciting, bringing positive impact on a global scale,” Hagger added.

His appointment comes as Minderoo’s commercial profile of resource investments, agriculture and property is rapidly expanding and its philanthropies continue to grow supported by donations totally more than $847 million.

Minderoo Co-Founder and previous CEO, Nicola Forrest, said she is “excited to pass the torch” onto to Hagger and focus on a number of her other duties.

“His experience across a range of sectors – from cancer research, anti-slavery campaigning, to arts and innovation, and obviously professional services and banking – will help Minderoo navigate the growth ahead with discipline and compassion.”