NAB reviews strategy and innovation unit

NAB's group executive strategy and innovation Nathan Goonan will fulfil a new group chief financial officer role, with his present responsibilities to be split between other executives later this year.

Goonan's appointment as CFO follows the retirement of long-standing CFO Gary Lennon. 

Lennon's retirement triggered executive team changes at NAB, leading to the decision that Goonan's strategy and innovation role would be discontinued.

The future of strategy and innovation is under review; iTnews understands that Goonan may keep some of his current remit, but hand over other parts, with a decision expected around July.

Goonan first joined the executive leadership team in his strategy role in April 2020 to oversee NAB’s strategy, innovation, and transformation agenda.

He assumed that role under a restructure which also led to NAB’s emerging technology unit, ‘NAB Labs’ being folded into the innovation function.

From July, Goonan will take on the expanded role of group CFO, with Lennon assisting with the handover until his final day this October.

NAB chief executive Ross McEwan said Goonan “has played a key leadership role in all our major strategic moves in recent years” and “led the development of our NAB group strategy”.

“During his three years on the executive team Nathan has driven a much sharper focus on accountability, performance and execution within NAB and our customers, colleagues and shareholders have experienced the benefits of this,” McEwan said.

Goonan joined NAB as a graduate in the mergers and acquisitions team before leaving to take on roles in investment banking at Lazard and Goldman Sachs in London and Australia.

He re-joined NAB in 2013 as executive general manager for corporate affairs and shifted into executive general manager group strategy and development role.

Lennon was with NAB for close to 15 years, seven of which he spent as CFO.