Can Don Argus help solve NAB’s biggest problem?

Much attention has focused on NAB's troubling UK exposures, but the bank faces a larger obstacle closer to home.

In the next few weeks, the new chief executive of the National Australia Bank will share a meal with Don Argus. It was Don Argus who, in his term as chief executive between 1990 and 1999, made NAB preeminent in business financing in Australia.

In Australian corporations, such meetings between a new chief executive and the person who ran the bank some two decades ago are rare. Most Australian chief executives don't delve too far into the past.

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