National Australia Bank’s incoming chief executive, Andrew Irvine, could lift investment in new technology systems to ensure it keeps pace with digital upgrades at rival banks each spending $500 million more than NAB on IT every year, analysts say.

Mr Irvine’s ascension to the top job at NAB from April 2 did not trigger changes to analyst recommendations on the stock. It was trading 0.7 per cent higher at $32.38 at midday on Thursday, as the market continued to digest the news of Ross McEwan passing the CEO baton to his head of business banking and Canadian protege.