A new CEO is obviously a big move, but today’s “all change” at National Australia Bank is an even bigger sign the Ross McEwan era of stability is over.
Nathan Goonan, chief financial officer and one of NAB’s most respected executives, has gone to Westpac to be CFO. Rachel Slade, the head of the powerhouse business division, has gone.
Months of uncertainty in the bank's executive ranks now lie ahead, and Jarden has already downgraded its rating on NAB following the news.
Little wonder the big message from NAB today is year-old CEO Andrew Irvine telling the troops the bank is run by the top 600 leaders and not the executive team.
