Addressing about 200 shareholders at the bank's annual meeting in Sydney, NAB's new chief executive Ross McEwan acknowledged there had been 'unacceptable' failings at the bank
National Australia Bank's new chief executive Ross McEwan says the bank must focus on getting the basics right and removing complexity from its operations, conceding it has lost "a lot of trust and respect" in recent years.In his first detailed public comments since formally starting as chief executive earlier this month, Mr McEwan reiterated on Wednesday that the bank would have its work cut out in rebuilding its standing, after a tumultuous period.
Addressing about 200 shareholders at the bank's annual meeting in Sydney, Mr McEwan acknowledged there had been "unacceptable" failings at the bank. "On the barometer of reputation, in recent years, including through the royal commission, it is clear NAB has lost a lot of trust and respect."We haven't always done what we said we would and this is unacceptable. I'm under no illusion about the challenges before us.
"Where we stand today isn't where we want to be; on customer experience, on employee engagement, on relative return on equity, and on productivity and efficiency," Mr McEwan said in his opening address. Complexity creates problems for our customers and colleagues, and we still have too much of this complexity inside the bankMr McEwan, a former Royal Bank of Scotland CEO who was recruited after the dramatic resignation of Mr Thorburn, outlined five focus areas for the bank. These were to get the simple things right for customers; to ensure the bank's strength; to make NAB "a good place to work"; to make it easy for customers to do business with the bank; and to grow.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NSW mobile detection cameras nab 3,300 drivers in first weekA week since they were rolled out, the world-first mobile phone detection cameras have scanned over 773,000 vehicles across six locations and captured over 3,300 drivers with their hands on their phones.
Read more »
The people who lost the election for British Labour hate the working classComment: The people who lost the election for British Labour hate the working class | CUhlmann
Read more »
Fire boss defends backburns after homes lost in 'megafire'Firefighters across NSW will continue backburning after homes were lost when crews lost control of an operation to strengthen containment lines. 9News
Read more »
More properties expected to be lost to NSW 'mega blaze' as heatwave loomsA heatwave is set to spread to NSW and is expected to bring an elevated fire risk to the state, with total fire bans still in place in many regions.
Read more »
Finger pointed at Australia as climate talks bring 'lost opportunity'Disappointment is the word many are using at the close of the latest United Nations climate talks in Madrid — and many are blaming Australia.
Read more »
Up to 20 homes lost in out-of-control NSW fires | Sky News AustraliaNSW RFS Commissioner Shane Fitzsimmons says up to 20 homes have been lost in out-of-control fires burning north of Sydney overnight. \n\nMr Fitzsimmons told Sky News crews worked over the weekend to secure protection for surrounding communities, however Sunday’s conditions “saw a dramatic escalation of fire activity” with potentially 'dozens of buildings damaged or destroyed”.\n\nThe NSW RFS Commissioner said more than one hundred fires were burning in the state and “more than half of those are not contained”. \n\nMs Fitzsimmons said teams would undertake a detailed analysis of the damage when the area was declared safe. \n\nImage: News Corp Australia
Read more »