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‘Did you offer your resignation to the board?’ NAB boss speaks out in the midst of heavy criticism

The boss of NAB is refusing to step down in the midst of heavy criticism following the final report of the Banking Royal Commission.

Andrew Thorburn tells Ross Greenwood he felt no pressure to resign as CEO after he was singled out in the final report handed down by Commissioner Kenneth Hayne.

“I’m more committed, more determined than ever to be that leader that takes that forward.”

But Ross puts the pressure on the boss:

Ross: “Did you offer your resignation to the board this morning?”

Mr Thorburn: “No I did not.”

Ross: “Did the board at least talk about your the future at the bank?”

Mr Thorburn: “No they did not.”

He says it’s business as usual for the NAB, insisting he’s learned from the revelations of misconduct uncovered by the royal commission.

Commissioner Hayne says Mr Thorburn didn’t take his findings seriously enough but the NAB boss says that’s not the case.

“He says that we are not learning the lesson from the past and we don’t know what the right thing to do it is.

“I don’t agree with that, I don’t feel that’s true, I feel that’s a bit harsh.

“But I do agree with his basic conclusion, and that is that we need to close the gap between the culture we have and the culture we want.”

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Following the hand down of the royal commission’s finding, AMP’s shares were up 22 cents and Chairman David Murray tells Ross “there’s some relief amongst investors”.

“I think that the legacy from Commissioner Hayne’s report will be the conduct norms that he’d laid out and principles that regulators or governments should apply in legislation.

“He also gives up the blueprint that lays out which acts apply to certain types of conduct.”

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