National Australia Bank (NAB) has hired Peter Thodey as executive manager of its specialised group assets business.
Thodey will oversee the exit of discontinued businesses that sat within nabCapital.
At a recent NAB strategy update, the bank's group chief executive Cameron Clyne announced that the legacy portfolios within nabCapital would be managed down and segregated.
"We are fortunate to have the management bench strength to dedicate someone such as Peter, with his extensive banking background and capabilities, to lead this activity," Clyne said.
In its half-year results announcement in March 2009, the bank said nabCapital cash earnings declined by 7.5 per cent due to increased charges for bad and doubtful debts.
Thodey joined NAB in 1980. His most recent job with the bank was as group executive, office of the chief executive.
