Ms Fagg is Chairman of Boral and a non-executive director of Djerriwarrh Investments Limited and the CSIRO. She will retire as a non-executive director of Incitec Pivot at the conclusion of their AGM on 20 December 2019.
Ms Fagg has been a board member of the Reserve Bank of Australia and was appointed an Officer of the Order of Australia (AO) in 2019 for distinguished service to business and finance, to the central banking, logistics and manufacturing sectors and to women.
NAB says it looks forward to the diversity of thought, experience and skills she will bring to the board.
Shares in NAB (ASX:NAB) are trading 0.25 per cent higher at $28.43.