He will also serve as interim group CEO for the bank.
The National Australia Bank (NAB) has appointed incumbent director Philip Chronican as the next chairman of and interim Group CEO, according to an announcement.
Chronican had already assumed the role of Group CEO on 1 March and will be succeeding Ken Henry AC as chairman later in 2019.
“Phil has been an outstanding Director for NAB and has a deep, extensive background in Australian financial services,” NAB director David Armstrong said.
Chronican has been a NAB director since May 2016. Apart from this, he was also chairman of the board’s risk committee, and a director of NAB subsidiary, BNZ.
In his 35 years in the industry, Chronican has also been with Australia and New Zealand Banking Group Limited’s (ANZ) Australia division, where he oversaw ANZ’s
Retail and Commercial businesses. Prior to joining ANZ, he had executive roles in Westpac Banking Corporation (Westpac) including group executive at Westpac Institutional Bank and CFO.
Chronican’s other directorships include NSW Treasury Corporation (TCorp) and The Westmead Institute for Medical Research (Chairman).
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