NAB loses top female exec

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    One of National Australia Bank’s top female executives has exited the company.

    Catriona Meharry, group treasurer for NAB, left the bank on Tuesday to return to London and enter a similar position with a UK financial institution, according to a report by The Australian.

    Meharry played a key role in the bank’s $4.25 billion capital raising in April of last year. In a note to employees, NAB chief financial officer Gary Lennon praised the treasurer’s performance.

    “Cat has made a fabulous contribution to NAB in her time as group treasurer, helping to guide the bank through the challenges brought on by the COVID-19 pandemic, including a major capital raising in April 2020 at a time when there was significant global uncertainty,” Lennon said. “Cat has led the group treasury team with distinction, driving change and challenge.”

    Read more: NAB sells insurance arm

    Lennon said in the note that he understood Meharry’s decision to return to the UK, where she lived before joining NAB from HSBC about a year and a half ago.

    Tom Wirth, executive group treasury, balance sheet, will step in as acting group treasurer until a permanent replacement is named.

    Meharry’s position falls outside NAB’s executive leadership team, The Australian reported. That team includes four female leaders: Rachel Slade, group executive for personal banking; Sharon Cook, group legal counsel; New Zealand head Angela Mentis; and head of people and culture Susan Ferrier.

    Ross McEwan, who was named NAB chief executive in December, has kept the bank’s leadership team relatively stable. In June, he brought in Andrew Irvine as head of business and private banking. Irvine, who was previously head of Canadian business banking at Bank of Montreal, replaced Anthony Healy.

    Original Article