Australia's NAB in management shake-up to boost growth at home

Sydney

NATIONAL Australia Bank (NAB), the country's No 1 lender, on Friday announced a top management shake-up and restructuring to reverse declining market share in Australia and New Zealand, leading to the departure of three senior executives.

After exiting struggling UK operations and selling a controlling stake in its life insurance business, CEO Andrew Thorburn is under pressure to boost growth at home where NAB has underperformed its three big rivals in recent years.