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Former BoA Merrill Lynch CEO Joins NAB As Group Executive For Finance And Strategy

Vanessa Doctor

26 July 2013

who is retiring after seven years with the Melbourne-based lender. 

Drummond joins NAB on the same remuneration package as Joiner, who earned around A$3.7 million ($3.4 million) in 2012, but will not be an executive director at the board. The company has also committed to paying him for deferred employment incentives valued at A$6.5 million in a combination of cash and equity, which he will forfeit in joining NAB. This will be progressively paid until 2016.