Following the announcement last month that four National Australia Bank staff had been suspended over rogue foreign currency trading, it emerged this week that the bank's chief executive, Frank Cicutto, has quit.
The four staff had been trading heavily on the assumption that the Australian and New Zealand dollars would fall against the US dollar. As the US currency continued to slide, they allegedly tried to cover their errors with unauthorised extra trading.
Although the A$360 million loss is less than originally feared (although double the estimate put forward by NAB in mid-January), questions have been raised as to why the rogue traders' activities went unnoticed for so long.
The crisis, with its echoes of several similar situations in recent years, is said to have spooked investors. However, NAB shares climbed 2% on the news of Mr Cicutto's departure.
He will be replaced by NAB's head of British operations, John Stewart, who has been described by observers as "well-credentialed".
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