News: NAB UPDATE 1-National Australia Bank CFO makes surprise exit

(Adds analyst comment, industry context)

National Australia Bank (NAB) , the country's No.1 lender, on Friday announced the surprise resignation of chief financial officer Craig Drummond after just 2-1/2 years in the role.

Drummond's exit, viewed by analysts as a major loss for NAB, has sparked speculation that he could be headed to rival ANZ Banking Group (ANZ) where the CFO position is vacant.

Earlier this week, new ANZ CEO Shayne Elliott said the bank would announce a new CFO in the coming weeks. An ANZ spokesman declined to comment on Friday.

NAB did not reveal Drummond's future plans and a spokeswoman could not immediately be reached for comment.

"Drummond has done a lot of work there (at NAB). He has a great reputation. It's a shame that NAB will lose him," Bell Potter analyst TS Lim said.

Drummond played a key role in helping NAB exit its underperforming assets in the United States and Britain, while also leading a A$5.5 billion ($3.9 billion) capital raising last year.

NAB CEO Andrew Thorburn said Drummond's resignation was a "disappointment".

"During Craig's tenure NAB has been through a period of significant change, and Craig has been pivotal to this," he said in a statement.

With ANZ due for a transformation under Elliott, some analysts said Drummond would be a good fit for the Asia-focused lender as it tries to concentrate on the mortgage market at home where growth is faster and returns attractive.

NAB promoted Gary Lennon, executive general manager finance, to replace Drummond as chief financial officer. Lennon will commence in the new role on March 15, which will also be Drummond's final day at NAB. ($1 = 1.3986 Australian dollars)