New NAB chief Ross McEwan gets December start date

Incoming NAB chief executive Ross McEwan will officially take up his new role at the beginning of December.

Incoming NAB CEO Ross McEwan. Picture: Stuart McEvoy

National Australia Bank has announced that incoming chief executive Ross McEwan will officially take up his new role at the beginning of December.

Announcing the appointment in July, the bank had said that Mr McEwan, who was the former chief executive for Royal Bank of Scotland, may not start in the top job until April next year, when he had fulfilled his obligations at RBS.

But RBS said on Friday that Mr McEwan would step down as CEO on 31 October, following the appointment of Alison Rose as its new chief executive.

Mr McEwan, who spent more than five years at the helm of RBS, returned the bank to profitability after a UK government bailout and a tumultuous period following the GFC.

His appointment at NAB remains subject to regulatory approvals.

Mr McEwan will replace Andrew Thorburn, who, along with chairman Ken Henry, resigned in February in the wake of the royal commission, which singled out NAB’s leadership team, saying the pair had failed to take the necessary responsibility for NAB’s conduct and cultural failings.

Meanwhile, interim chief executive Philip Chronican would assume the position of chairman from Dr Henry from 15 November 2019 when he resigns, NAB said in a statement to the market on Friday.

Chief financial officer Gary Lennon would be acting CEO from 15 November to 1 December 2019, NAB said.