Craig Drummond's exit fuels talk about his next move Latest...

• Craig Drummond's exit fuels talk about his next move
• Latest top-level change at Aussie banks
• NAB shares down 2.0 pct, underperform sector

(Recasts with comments from industry sources, adds shares)

National Australia Bank (NAB) on Friday announced the surprise resignation of its chief financial officer, the latest executive exit in Australia's banking sector as it restructures for a period of modest profit growth and greater competition.

Craig Drummond's move after just 2-1/2 years in the role follows the departure of CEOs at three of Australia's top-four banks, which are facing tougher capital rules, a slowing housing market and a rapidly changing digital market-place after years of bumper profits based on conservative mortgage lending.

NAB did not reveal Drummond's plans or the reasons for his resignation, but industry sources said he could be eyeing a CEO job at a global investment bank or the vacant CFO role at Australia and New Zealand Banking Group (ANZ).

"His ambition is to be a CEO," said a Melbourne-based fund manager who owns ANZ shares and knows Drummond.

Investors looked unfavourably on the departure, with NAB shares down about 2 percent at 0200 GMT compared with 0.4-1.2 percent drop in the banking sector. The S&P/ASX Financials index .AXFJ was down 0.6 percent.

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

Drummond was integral to NAB's exit from its underperforming assets in the United States and Britain over the past year, and led a A$5.5 billion ($3.9 billion) capital raising in 2015. Australia's major banks have raised a total of A$20 billion since May last year.

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

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

"I'd be really surprised if Drummond shows up at ANZ," Morningstar analyst David Ellis said, adding that Drummond's stocks were too high for him to consider crossing the street to a similar position.

Melbourne-based 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 = 1.4047 Australian dollars)