National Australia Bank has announced changes to its group executive committee.
Michael Ullmer, currently group CFO of National Australia Bank, has been appointed as deputy group CEO. Mr Ullmer will remain a member of the boards of National Australia Bank and the Bank of New Zealand. In addition, he will join the boards of some of the firm’s other major subsidiaries.
Mark Joiner, currently group executive general manager for development and new business has been appointed group CFO.
John Stewart, group CEO of National Australia Bank, said: Mark will take up his new role at the end of November. He will be involved in the 2007 financial year results preparation with Michael as part of his transition into his new role.
George Frazis, currently executive general manager for business and private banking, will replace Mark as the group executive general manager for development and new business, and will join the group executive committee.
Mr Stewart went on to say that an announcement regarding the head of the business and private banking area will be made at a later date. In the meantime, Joseph Healy, regional general manager of corporate and private banking, will fill the role in an acting capacity.
These moves, along with the recent appointment of Cameron Clyne as CEO of Bank of New Zealand, will enhance the development of the National’s strong group of next generation leaders. concluded Mr Stewart.