National Australia Bank (NAB) has finalised its new executive line-up, just two weeks after appointing ex-Citigroup boss Ahmed Fahour as chief executive officer, by signing-up a new chief information officer and head of institutional markets and services and two senior executives departing.
The announcement follows chief executive John Stewarts pledge earlier in the week to amalgamate the bank’s core domestic operations to a central division, in an effort to obliterate internal rivalries and boost earnings growth.
John Hooper has been appointed executive general manager, institutional markets and services (IM&S), which is the global business of the former corporate and institutional banking division.
Ian MacDonald becomes the new chief information officer on the new executive committee and replaces Ian Crouch, who will depart the group in September after a two year tenure.
Key corporate development functions will be relocated to other members of the executive committee to streamline the corporate headquarters.
Under the restructure, corporate strategy will report directly to Fahour, with the corporate affairs portfolio falling to Lynne Peacock – executive general manager people and culture.
Group chief executive John Stewart says all major projects will come under Cameron Clyne – executive general manager customer solutions attaché.
As a result of the restructure, Mike Laing will also be leaving the group after a 17 year tenure, most recently as executive general manager corporate development, an appointment made under the old-guard of Frank Cicutto in 2002.
Stewart says Fahour will work with Hooper, Macdonald and Scott to finalise the integrated regional operating model for Australia.
“Following these changes, I have now finalised the structure of the executive team that will lead the new National,” Stewart says.
The new group executive committee includes Lynne Peacock (EGM, people and culture), Michael Ullmer (Group CFO), Ian MacDonald (CIO), Cameron Clyne (EGM, customer solutions), Ahmed Fahour (CEO Australia), Peter Scott (EGM, wealth management), Ross Pinney (CEO, financial services Europe), and John Hooper (EGM, IM&S).
