National Australia Bank names IPAC Securities founder Peeyush Gupta as non-executive director.

National Australia Bank has named a new non-executive director to its board effective November 2014, to replace Geoff Tomlinson, whose tenure as director ends in December. 

Tomlinson's seat will be assumed by Peeyush Gupta, the co-founder of wealth management firm IPAC Securities who also served as its chief executive fro 1996 to 2009. Gupta is currently a non-executive director at National Wealth Management Holdings, a subsidiary of NAB.

This appointment comes after the bank announced that Cameron Clyne will be retiring from the group chief executive and managing director positions in August 2014. He will be replaced by Andrew Thorburn in 1 August, who will also be invited to join the NAB board.