National Australia Bank announced the current president of Royal Bank of Scotland (RBS), former Federal Bank executive Ross MaEwaan will become the bank’s new CEO.
RBS President Ross McEwan left Australia in 2012 after the Federal Bank failed to win the position of president.
McEwan’s base salary at NAB will be A$2.5 million and will have the opportunity to earn short-term and long-term bonuses, which may triple the income.
McEwan gave RBS a 12-month notice in April this year and will not be in NAB until April 2020.
In the statement, McEwan said he is looking forward to returning to Australia and leading the revitalization and transformation of the NAB that has begun.