ASX Announcement - New Executive Team to Lead the Transformation of the National - 25 August 2004

The Chief Executive of the National, Mr John Stewart, has announced several important management changes as part of a new executive team that will lead the ongoing transformation of the National.

The key changes are:

• John Hooper has been appointed Executive General Manager, Institutional Markets & Services (IM&S) the global business of the former Corporate & Institutional Banking division;

• Ian MacDonald has been appointed Chief Information Officer on the new Executive Committee.  He replaces Ian Crouch, who will be leaving the National in September;

• Key Corporate Development functions will be relocated to other members of the Executive Committee to streamline the corporate headquarters.

“I am pleased to confirm that Mr John Hooper has been appointed Executive General Manager, Institutional Markets & Services, and will be a member of the new Executive Committee,” Mr Stewart said.   “John is an experienced institutional banker and proved to be the best candidate during the recruitment process.”

“IM&S will include all global business lines.   The corporate banking business, custodian service and transactional services will be integrated within each region and report to the regional business heads in Australia, New Zealand and Europe.   The Chief Executive Officer of Australia, Mr Ahmed Fahour, will work with John Hooper, Ian MacDonald and Peter Scott to finalise the integrated regional operating model for Australia.”

Mr Stewart also said he was pleased to announce that Ian MacDonald, currently Executive General Manager of Financial Services Australia, has been appointed Chief Information Officer on the new Executive Committee.

“Ian MacDonald is one of the most experienced business leaders at the National and formerly lead the global shared services function across the Group,” Mr Stewart said.   “He will bring an operational perspective to the development and implementation of information technology within the National.”

“This move is in line with the appointment of other experienced business managers to key functional leadership roles, such as Lynne Peacock, Executive General Manager, People & Culture.   Ian will begin the new role immediately but progressively hand over his FSA responsibilities to Ahmed Fahour.  This will ensure continuity until the new regional leadership team is finalised.

“Ian will replace Ian Crouch who will leave the National.   I would like to thank Ian Crouch for his leadership of the technology function within the National over the last two years and wish him every success for the future.”

Mr Stewart also announced the restructuring of Corporate Development and the integration of key functions under other members of the Executive Committee to streamline the corporate headquarters:

• Corporate Strategy will report direct to the Chief Executive as we continue to develop the strategy for the Group

• Corporate Affairs will report to Lynne Peacock to support the cultural change program and rebuild the National’s reputation

• Major Projects will report to Cameron Clyne, the Executive General Manager, Customer Solutions, who has been asked to achieve the best outcome for customers from our project spend.

“As a result of the restructuring of Corporate Development, Mike Laing will also be leaving the National,” Mr Stewart said.   “I would like to thank Mike for his contribution to the National over many years and wish him every success for the future.

“Following these changes, I have now finalised the structure of the executive team that will lead the new National from 1 September.”

The new Group Executive Committee includes: Lynne Peacock (EGM, People & Culture), Michael Ullmer (Group CFO), Ian MacDonald (CIO), Cameron Clyne (EGM, Customer Solutions), Graeme Willis (a/g EGM, Risk Management), Gavin Slater (Group General Manager), Ahmed Fahour (CEO Australia), Peter Scott (EGM, Wealth Management), Ross Pinney (Chief Executive, Financial Services Europe), Peter Thodey (Chief Executive Officer, Bank of New Zealand), and John Hooper (EGM, IM&S). 

“This is an outstanding group of executives that will lead the transformation of the National towards a more nimble and customer-focused organisation and help to build our reputation and employee pride,” Mr Stewart said.

View profiles of the new Group Executive Committee members.

For further information:

Samantha Evans
Corporate Relations Manager 

03 8641 4982 work                        
0404 883 509 mobile                      

Callum Davidson
Head of Group Investor Relations  

03 8641 4964 work
0411 117 984 mobile