BREAKING NEWS

BREAKING NEWS

National Australia Bank pauses trade ahead of statement on leadership changes

National Australia Bank pauses trade ahead of statement on leadership changes
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David Gray(Reuters)
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(Reuters) - National Australia Bank on Thursday sought a halt in trade of its shares pending a statement on "leadership changes", days after an inquiry panel called out its chairman and chief executive over misconduct in the financial sector.

After its year-long inquiry, the Royal Commission named NAB Chief Executive Andrew Thorburn and Chairman Ken Henry as standing out from their peers by appearing unable to understand or learn from past misconduct at the company.

While the Royal Commission recommended referring some of Australia's biggest money managers to regulators for possible further action in 24 cases, it largely avoided naming individuals.

(Reporting by Ambar Warrick in Bengaluru; Editing by Clarence Fernandez)

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