NAB makes key asset servicing appointment



National Australia Bank (NAB) has internally appointed John Comito as executive general manager (EGM) for asset servicing.
Comito has been with the bank for 21 years and was most recently chief risk officer for product and markets.
Prior to this, he was Financial Institutions Group's EGM accountable for providing solutions to banks, diversified financials, fund managers, insurance companies, as well as governance and oversight of the London and New York operations.
Commenting on the appointment, NAB group executive for product and markets, Antony Cahill, said "John's experience in leading large teams and managing client relationships, coupled with his strong finance and risk background, makes him the ideal person for this role".
"As a previous EGM Financial Institutions Group, John has a deep understanding of the key commercial considerations of our customers as well as the broader product solutions that NAB offers."
Recommended for you
AZ NGA has entered into a strategic partnership with national advice firm MiQ Private Wealth, as a way to provide a succession solution, as well as career development opportunities for staff.
While the advice profession struggles under growing operating costs, Adviser Ratings has found more than half of practices – some 58 per cent – that generate less than $250,000 in revenue report no profit at all.
The Federal Court has ordered the freezing of assets and the appointment of receivers to two entities linked to Australian Fiduciaries, ASIC’s latest move in an ongoing investigation into the company’s managed investment schemes.
Off the back of the August adviser exam results, the profession has seen 17 new entrants hit the Financial Adviser Register (FAR) this week, helping numbers return to positive territory.