Ahmed Fahour

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Ahmed Fahour, 42, an Australian of Syrian descent, is the Chief Executive Officer of the Australian operations of the National Australia Bank (NAB).

The son of immigrant Syrian parents, he completed his Master of Business Administration degree (MBA) at Melbourne Business School in 1993 while working for Boston Consulting Group. He became a director of the group in 1997 and spent a year as Managing Director of its joint-venture investment company, Iformation. While living in the USA, Fahour claimed to be of Lebanese descent, due to the anti-Syrian sentiment predominant at the time.

He joined Citigroup in 2000 as senior vice-president of corporate development in New York, at the age of 36. In February 2004 Fahour was named chief executive of Citigroup Australia. After only 6 months in the job, he left to become CEO of NAB's Australian operations.

His new job paid him 40% less than his previous job, but he said "its not just about the money". [1] [2] As part of his deal to join NAB, Fahour received an upfront payment for what he would reportedly have received had he stayed at Citigroup: a cash payment of $3.9 million in January 2005, plus options and shares worth $9.5 million over the next four years. NAB has offered him a four-year contract worth about $34 million if he meets all performance targets, otherwise earning $1.5 million per year if targets are not met.

Fahour is among the highest-paid executives in Australia, running the biggest division of one of the country’s four major banks. He started work in the new role on September 1, 2004. He was ranked 54 in Business Review Weekly's for 2004.

He is also a member of the Carlton Football Club.

[edit] External links

• Inside Business
• NAB Group