Aussie to become new BNZ boss

Australia and NZBank of New Zealand managing director, Peter Thodey, has been appointed to a new role as group executive general manager back in the Australian head office of National Australia Bank.

He will be replaced at the BNZ by Cameron Clyne, who is currently executive general manager group development, National Australia Bank Group, and a Bank of New Zealand director.

In May last year the Sydney Morning Herald said that the young National Australia Bank executive, Clyne, seemed to be getting all the important gigs of late;

“Clyne was front and centre for the PM’s speech at the Centre for Independent Studies last week and is now described as NAB chieftain John Stewart’s right hand man.

“While the bank’s chief scorer, Michael Ullmer – who also made it to Canberra – and Australia boss Ahmed Fahour are considered to be the two most likely to succeed Stewart, Clyne’s odds are shortening.”

So, does his move to New Zealand signal that he is being groomed for bigger things, or is he being moved aside to give Ahmed Fahour a clear run at replacing Stewart?

Clyne’s immediate challenge will be to address ongoing staff concerns around unrealistic performance targets, and high levels of workplace stress identified in independent research.

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