Senior bank executive will replace Ross McEwan who is retiring
NAB’s board of directors has appointed Andrew Irvine as the bank’s new group chief executive officer and managing director, to replace Ross McEwan.
Irvine (pictured above right with McEwan), who joined NAB as group executive business and private banking in 2020, will begin his new role on April 2, 2024. McEwan will retire from executive roles after a distinguished career in financial and insurance services.
NAB chair Philip Chronican said Irvine had key strengths supporting his appointment including passion for customer service, success leading Australia’s largest business bank franchise, people leadership, risk management and international experience.
In a media release on NAB’s website and on the ASX, it was revealed that Irvine’s previous roles before joining NAB included head of Canadian business banking at the Bank of Montreal (BMO), Canada’s oldest bank and one of its largest. He held a range of roles at BMO over more than 12 years and previously worked for McKinsey & Company, Lycos Europe and Credit Agricole.
A British-Canadian dual citizen, Irvine has a Bachelor of Science (Hons) in Business Management and Commerce from King’s College London and a Master of Business Administration from Western University in Ontario, Canada.
Chronican said Irvine was 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,” Chronican said. “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 (pictured below right with Ewan and Irvine) said Irvine’s expertise in digitisation, transformation and modernising had created significant benefits for how NAB operated. “He has made work simpler and easier for colleagues by deeply understanding their needs.”
Andrew Irvine excited to become NAB CEO
Irvine said it was a humbling decision by the board to appoint him CEO.
“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,” Irvine said.
“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.
“I am very 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.”
NAB praises leadership of Ross McEwan
Chronican paid tribute to McEwan, who joined NAB in December 2019 with a mandate for change in the wake of the royal commission.
“Ross has been exactly the CEO we needed. He came in at a critical time with significant international experience and expertise,” Chronican said.
“He reminded us of the value of getting the basics right, simplification and exceeding customer expectations. It was particularly pleasing that Ross has been able to foster internal talent to enable us to make this appointment from within the bank.
“He has rightly been recognised as a tremendous and reliable career banker. He has been a stabilising force for NAB and the industry and we wish him well for the future.”
McEwan said he was delighted at Irvine’s appointment as CEO after a lengthy assessment process.
“Andrew is a highly capable, internationally experienced banker who brings the right lens to us wanting to be Australia’s best relationship-driven bank,” Ewan 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.”
Irvine will take on the position of Australian Banking Association chair from McEwan on behalf of NAB, which accepted chair bank responsibilities for two years from December 2023.
A new group executive business and private banking to replace Irvine will be selected in due course.
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