Frank Cicutto
Frank Cicutto | |
|---|---|
| Born | Francis John Cicutto 1950 Spilimbergo, Italy |
| Died | 10 January 2025 (aged 74–75) |
| Other names | Frank Ciccutto |
| Education |
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| Occupations |
|
| Years active | 1967–2007 |
| Employer | National Australia Bank |
| Spouse | Christine Cicutto |
| Children | 1 |
Frank Cicutto (1950 – 10 January 2025) was an Italian-born Australian business executive and banker. He was chief executive officer of National Australia Bank (NAB) between 1999 and 2004.
Early life
[edit]Cicutto was born in 1950 in Spilimbergo, Italy.[1] At the age of 2, his family migrated to Australia during the post-war migration wave from Europe, eventually settling in Leichhardt, New South Wales in the Inner West of Sydney.[1] Cicutto was educated at Benilde High School, Bankstown and St John's College, Lakemba.[2] He studied for a Bachelor of Commerce at the University of New South Wales.[1]
Cicutto played Sydney Grade Cricket for the Bankstown District Cricket Club and was club secretary from 1972 to 1975.[3][4][5] He later moved to Melbourne, where he coached for the Ringwood Cricket Club in Ringwood, Victoria.[1]
Career
[edit]Cicutto joined the National Australia Bank in 1967 as a 17-year-old and was employed by NAB for 37 years, leaving as chief executive officer in 2004.[6]
He held multiple executive positions in the company, including executive vice president for the Americas in 1988,[7] chief executive officer of Clydesdale Bank from 1994 to 1996 and as chief general manager for Australian financial services from 1996 to 1998.[8][9] In 1998, Cicutto was appointed to the board of directors as chief operating officer, before being elected chief executive officer the following year.[10] He resigned from National Australia Bank in 2004, amid the controversial foreign currency trading scandal, which involved losses of A$360 million covered up by NAB options traders.[11][12]
Cicutto was the chair of the Australian Bankers' Association from 1999 to 2001.[13] He also chaired property management company Run Corp from 2005 to 2007, with his resignation resulting from the company having experienced heavy losses during the tenure.[14][15]
Personal life and death
[edit]Cicutto lived in Canterbury in Melbourne, Victoria.[16] He died on 10 January 2025, following an illness.[17][18]
References
[edit]- ^ a b c d Kirby, James (15 March 1999). "Peasants' son nabs top spot". Australian Financial Review. Fairfax Media. Retrieved 13 January 2025.
- ^ Abernethy, Mark. "Wizard of Oz". The Australian Financial Review. Retrieved 5 April 2024.
- ^ Hughes, Anthony (17 January 2004). "Captain Survivor on a sticky wicket". The Sydney Morning Herald. Fairfax Media. Retrieved 13 January 2025.
- ^ Rodgers, James (8 October 2024). "Bruce Wilcock". Sydney University Cricket Club. Sydney Uni Sport and Fitness. Retrieved 13 January 2025.
- ^ Bankstown District Cricket Club. "Facebook post from 12 January 2025". Facebook. Retrieved 16 January 2025.
- ^ "NAB's Frank Cicutto resigns". The Age. Australian Associated Press. 2 February 2004. Retrieved 19 December 2012.
- ^ Mackenzie, Stuart (2 December 2001). "Nightmare on Bourke Street". Crikey. Private Media. Retrieved 13 January 2025.
- ^ "New chief appointed by Clydesdale". The Herald. Herald & Times Group. 27 October 1995. Retrieved 13 January 2025.
- ^ "Timeline on Frank Cicutto's 37 years with NAB". Australian Associated Press. 2 February 2004.
- ^ Cornell, Andrew (13 April 2002). "NAB: Who Shrunk the Bank?". Australian Financial Review. Fairfax Media. Retrieved 13 January 2025.
- ^ "NAB chief quits amid trading scandal". ABC News. Australian Broadcasting Corporation. 2 February 2004. Retrieved 13 January 2025.
- ^ Long, Stephen (2 February 2004). "Frank Cicutto Resigns as NAB boss". ABC The World Today. Archived from the original on 11 May 2017. Retrieved 24 February 2017.
- ^ O'Riordan, Ben (19 July 1999). "Clearing the airwaves: Laws on notice as bankers feud". Australian Financial Review. Fairfax Media. Retrieved 13 January 2025.
- ^ Chessell, James (19 September 2005). "Not Frank as to who runs Run Corp". The Sydney Morning Herald. Fairfax Media. Retrieved 13 January 2025.
- ^ Schneiders, Ben (20 February 2007). "Former NAB boss vacates the chair at troubled rent roll company". The Age. Fairfax Media. Retrieved 13 January 2025.
- ^ Smiles, Jayitri (17 August 2020). "Melbourne's most powerful streets: Where our rich listers, celebs live". realestate.com.au. News Corp Australia. Retrieved 13 January 2025.
- ^ Kane, Annie (14 January 2025). "In Memoriam: Frank Cicutto 1950–2024". The Adviser. Momentum Media. Retrieved 13 January 2025.
- ^ "Statement On Passing Of Former NAB CEO Frank Cicutto". National Tribune. 12 January 2025. Retrieved 13 January 2025.