NAB Group Exec Finance & Strategy resigns

National Australia Bank (NAB) has announced the resignation of group executive finance & strategy Craig Drummond.

In a statement to the ASX, NAB Group CEO Andrew Thorburn said: "It is with disappointment that I announce Craig Drummond's resignation. I am incredibly appreciative of what he has done for NAB. During Craig's tenure NAB has been through a period of significant change, and Craig has been pivotal to this."

He added: "Over the last two and a half years Craig has led NAB's exit of Great Western Bank, the sale of the UK Commercial Real Estate and SGA portfolios, the 80 per cent sale of the life insurance business, the demerger and IPO of CYBG and the largest capital raising in Australian corporate history. He has also been instrumental in the implementation of NAB's Performance Unit framework, which has led to greater transparency and alignment across our organisation."

Commenting on his decision to resign, Drummond said: "I believe that NAB is a stronger and safer bank as a result of the work that has been done to reshape the business and deal with the legacy issues. As a result I believe now is the right time for me to consider the next step in my career."

Following Drummond's resignation, Gary Lennon, who has held the role of executive GM finance at NAB since 2010, will step into the role of chief financial officer on 15 March 2016.