(16 March 2010 – Australia) National Australia Bank has announced that its Deputy Chief Executive Officer Michael Ullmer would be stepping down at the completion of his role on 31 August 2011 and will also resign as a director of NAB.Michael Chaney, Chairman for National Australia Bank, said that Mr Ullmer’s contribution to the NAB Group had been significant.
“Michael joined the NAB in 2004 as Finance Director at a time when the Group was facing significant challenges. In this role Michael led the stabilisation of our financial and risk management systems and was a key contributor to the rebuilding of our reputation with regulators and the investment community.
“As Deputy CEO since 2007, Michael has overseen the successful integrations of Great Western Bank in the US and JBWere, which has been key to strengthening NAB’s private wealth capability. He has also been a strong advocate of strategic engagement with the community and NAB’s commitment to diversity, which included chairing both NAB Schools First program and diversity forum.
“Michael’s contribution to the Board as an Executive Director has also been greatly valued,’Mr Chaney said.
NAB Group CEO Cameron Clyne said that Mr Ullmer’s appointment as Deputy CEO in 2007 was at a time of unprecedented turmoil for the financial services sector.
“On behalf of everyone at NAB I would like to thank Michael for the way he has completed the major tasks assigned to this role and his outstanding contribution to ensuring we are now so well placed to realise the value of our great franchise.”