Site menu

Search by ticker code:
Generic filters


Search by ticker code:
Generic filters

Search by ticker code:
Generic filters

NAB (ASX:NAB) shares under spotlight on new leadership team

National Australia Bank Ltd (ASX: NAB) shares are in focus today after the bank announced leadership changes.

NAB recently saw its boss, Ross McEwan, step down and be replaced by Andrew Irvine. Mr Irvine has been quick to make appointments with NAB’s leadership team.

NAB’s new leadership team

At the end of April, Rachel Slade will be appointed as the ASX bank share’s new group executive of business and private banking – she’s currently the group executive of personal banking.

Ana Marinkovic is going to be appointed the group executive of personal banking – she is currently the executive of business direct and small business in the business and private banking team.

Cathryn Carver has been appointed the group executive of corporate and institutional banking.

The new NAB CEO, Andrew Irvine, said he was delighted with all of the appointments and pointed out they were from within NAB’s senior leadership team, “helping ensure alignment in delivering for the bank’s customers and colleagues.”

Irvine also said all three executives had a track record of helping customers succeed “while getting the basics of banking right”.

Management commentary

NAB CEO Irvine said:

Rachel, Ana and Cath, who will lead NAB’s customer-facing businesses in Australia, are great relationship bankers who inspire their teams to deliver results for customers. They understand the importance of using technology and data to make NAB easier and simpler to bank with.

This completes the executive leadership team that will take NAB forward and maintain the momentum we have across the business by executing with discipline and focus.

We see plenty of opportunities to build on NAB’s leadership in areas such as business lending, particularly to small and medium businesses, while continuing to deliver better outcomes for customers and colleagues.

My thoughts on the NAB share price

The NAB share price has climbed 19% in six months even though arrears are rising and the net interest margin (NIM) is being challenged because of competition in the sector. The NIM tells us the loan interest rate compared to the cost of funding the loans (eg savings accounts)

I like NAB in the banking sector, but the higher NAB share price means it’s now trading at a high valuation considering the economic conditions. I’d wait for a better price, or choose different ASX dividend shares.

$50,000 per year in passive income from shares? Yes, please!

With interest rates UP, now could be one of the best times to start earning passive income from a portfolio. Imagine earning 4%, 5% — or more — in dividend passive income from the best shares, LICs, or ETFs… it’s like magic.

So how do the best investors do it?

Chief Investment Officer Owen Rask has just released his brand new passive income report. Owen has outlined 10 of his favourite ETFs and shares to watch, his rules for passive income investing, why he would buy ETFs before LICs and more.

You can INSTANTLY access Owen’s report for FREE by CLICKING HERE NOW and creating a 100% FREE Rask Account.

(Psst. By creating a free Rask account, you’ll also get access to 15+ online courses, 1,000+ podcasts, invites to events, a weekly value investing newsletter and more!)

Unsubscribe anytime. Read our TermsFinancial Services GuidePrivacy Policy. We’ll never sell your email address. Our company is Australian owned.

Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.

At the time of publishing, Jaz does not have a financial or commercial interest in any of the companies mentioned.
Skip to content