National Australia Bank (NAB) has named Andrew Thorburn as its new CEO and managing director, effective 1 August 2014.
Currently, Thorburn is serving as managing director and CEO of Bank of New Zealand.
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Previously, he also served as executive general manager of retail banking at NAB for three years.
Thorburn will succeed Cameron Clyne, who will retire from the positions in August.
Michael Chaney, chairman of NAB, said: "Clyne took over as CEO during the global financial crisis and developed an effective strategy to steer the Bank through a challenging period during which it has undergone significant cultural and structural change."
"As CEO of BNZ, Thorburn has gained extensive experience in all of the component parts of running a full service commercial bank. BNZ has delivered consistently strong results, reflecting a focused and disciplined approach to implementation of the strategy.
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By GlobalData"In the course of his time at the Bank, Thorburn has also had responsibility for NAB’s Asian and US operations. As a member of the Group Executive team, his energy, vision and ability to motivate employees have been obvious as has his business acumen."
