NAB Appoints New Chief Risk Officer

Thursday 4 September 2008

National Australia Bank Group Chief Executive Officer Mr John Stewart today announced the appointment of Bruce Munro to the role of Group Chief Risk Officer (CRO). He will also join the National Australia Bank Group Executive Committee.

“Bruce, who is currently Chief Executive Officer of nabAsia based in Hong Kong, has an excellent record of achievement as a career banker with both NAB and previously the Commonwealth Bank of Australia,” Mr Stewart said.

“Bruce has a successful track record in dealing with the broad range of sophisticated products and financial instruments.

“He has also demonstrated first class leadership and people skills. I am very pleased to see our executive bench strength leading to yet another internal senior appointment.

“Bruce will build on the work of Michael Hamar, the National's current Group CRO, who will retire as planned from full time work in January 2009.
“To ensure a smooth transition, Bruce will be appointed as Group CRO designate from 1 October, 2008 and will formally take up the role when Michael retires in January, 2009,” Mr Stewart said.

Michael Hamar joined the National in December 2004 on a four year contract with the specific focus of transforming the Risk capability of the Group.
As a Group Executive Committee member, Michael has been responsible for building and leading a highly competent Risk team that is now fully aligned with the Regional operating model.

Michael leaves a very solid foundation, including advanced Basel 2 accreditation, for Bruce to build upon.

“I extend my personal thanks to Michael for his great contribution during a crucial time at the National,” Mr Stewart said.

For further information:

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Brandon Phillips
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Hany Messieh
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