NAB hires group risk chief

National Australia Bank (NAB) has appointed a new group chief risk officer as part of an ongoing drive to improve the company’s risk management practices.

Michael Hamar will join NAB in December from the Commonwealth Bank of Australia, where he has spent around two years in charge of institutional and business services risk management. He will report to Michael Ullmer, NAB’s group chief financial officer and finance director in Melbourne.

Hamar replaces Graham Willis, who has been filling the chief risk officer’s role temporarily since a foreign exchange options scandal engulfed NAB earlier this year.

A bank spokesperson told RiskNews that a decision on Willis’ future was yet to be made.

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