Two more through NAB’s revolving door

National Australia Bank yesterday announced the resignation of the head of its global foreign exchange division, Peter Cunningham. A NAB spokesman said there had been a discussion with Shaun Dooley, the new head of markets, and as a result Cunningham had agreed to “seek opportunities outside the bank”. A replacement has not yet been announced. Last week, five foreign exchange traders and three senior executives left NAB following the release of a highly critical report by PricewaterhouseCoopers into the bank's $360 million rogue trading scandal. Cunningham was not named in the report, however. Meanwhile, new CEO John Stewart has announced that Lynne Peacock will join NAB's Group Executive Forum, a senior management team which reports to the board.