NAB appoints new CEO

NAB has appointed Andrew Irvine as its new group chief executive officer and managing director, taking over the role from Ross McEwan this April.

Ross McEwan (L) and Andrew Irvine (R)

The major bank announced the change on Wednesday, stating McEwan is set to retire from executive roles after a career in financial and insurance services.

NAB chair Philip Chronican said, “Andrew is well suited to take NAB into its next chapter of growth and performance for our customers, colleagues and the communities we serve.”

“The customer is front and centre for Andrew. He has lifted our business and private banking performance and been a tireless advocate for the agricultural sector, small business and First Nations business,” Chronican said.

Before joining NAB in 2020, Irvine was the head of Canadian business banking at the Bank of Montreal (BMO) and held various roles at the bank for over 12 years.

He has also worked at McKinsey & Company, Lycos Europe and Credit Agricole.

Speaking on his new role Irvine said, “I am excited by the opportunity to lead NAB, a bank that is core to the financial needs of so many Australians and New Zealanders.

“I have learned a great deal from Ross during his time as CEO. NAB is on the right trajectory to being a better bank and I will work with my colleagues to continue executing our strategic ambitions,” Irvine said.

He added he was “mindful of the responsibility of taking what has been built and continuing to grow our positive impact.

“This should benefit customers, colleagues and shareholders alike.

“This bank has a tremendous leadership team and colleagues who come to work every day wanting to deliver the best possible services,” Irvine said.

NAB will look for a new group executive business and private banking in the upcoming months.

McEwan said, “I have enjoyed the past four-plus years as CEO and the way in which NAB has improved its performance, standing, trust and reputation.

“I said when I joined NAB that Australians deserved for NAB to be a world class service provider and we are now closer to that ambition.

“I am confident to be leaving the bank’s customers in good hands with Andrew and the team,” McEwan said.

The bank said Irvine will assume the position of Australian Banking Association Chair from McEwan on behalf of NAB, which accepted chair bank responsibilities for two years from December 2023.