National Australia Bank (ASX:NAB)
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1 Year : From Dec 2018 to Dec 2019
By Rhiannon Hoyle
SYDNEY--The chief executive of National Australia Bank Ltd. (NAB.AU) said he has cancelled planned long service leave and will double down on efforts to overhaul one of the country's biggest banks following a yearlong judicial probe of misconduct in the financial industry.
"I will lead this personally and visibly," Andrew Thorburn said in a statement on Tuesday. "I am proud to be CEO of NAB, and am more determined than ever to lead NAB with even greater urgency and intensity and show through our ongoing actions that we do what we say."
Mr. Thorburn had planned to take a months' leave following the release of a final report into Australia's banking sector, which was released on Monday and included 76 recommendations that seek to tighten legislation and hold banks and other financial institutions to account for misdeeds.
He said NAB will engage constructively on issues raised in the report that directly concern the lender and have been referred to the regulator.
Write to Rhiannon Hoyle at firstname.lastname@example.org
(END) Dow Jones Newswires
February 04, 2019 17:12 ET (22:12 GMT)
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