Former NAB boss to head Govt property venture
The National Australia Bank’s executive director Ahmed Fahour is leaving the bank to head up the Federal Government’s moves to shore up the commercial property sector.
Treasurer Wayne Swan has appointed Mr Fahour as the interim chief executive of the Australian Business Investment Partnership.
The Government is providing $2 billion to secure commercial property investments in Australia, and wants that money matched by the major banks.
Mr Fahour had led NAB’s Australian operations since 2004, but he moved to a more strategic role in January when a new chief executive came on board.