NAB in business structure reshuffle

National Australia Bank is overhauling its business structure, folding parts of its wealth management unit into personal banking and separating its business banking into two units, with former Perth executive Cathryn Carver one of the winners.

Nab, which in the past few months has offloaded the underperforming Clydesdale Bank and sold 80 per cent of its life insurance business, will arrange its remaining assets into business and private banking, corporate and  institutional banking, consumer banking and  wealth management, consumer products and  services, technology and  operations, risk and a largely unchanged New Zealand unit.

"This new organisational structure will enable us to continue the pace of change while providing greater clarity for our customers and our people," chief executive Andrew Thorburn said of the changes, which will take effect on August 1, subject to regulatory approval.

Ms Carver, who was recruited by Nab from a senior Perth-based role at ANZ Bank, will be acting chief customer officer, corporate and institutional banking.

Three senior executives, Michaela Healey,Renee Roberts and Gavin Slater, will be leaving the bank.

Nab was down 1.2 per cent to $25.92 at the time of writing.