NAB report: managers axed

Three other senior executives -- general manager of the corporate and institutional banking division, Ian Scholes; head of markets, Ron Erdos and general manager of risk management Chris Lewis -- also left the bank following the report’s conclusion of inadequate supervision and a failure of risk management.

However, NAB said primary responsibility for the scandal rests with the four currency options traders who had been suspended when the losses were discovered on January 13 -- head of optio