Ahmed Fahour
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Ahmed Fahour, 42, is an Australian Muslim of Lebanese descent. He is the Chief executive officer of the Australian operations of the National Australia Bank (NAB). The son of immigrant Lebanese parents, he completed his Master's in Business Administration (MBA) at Melbourne Business School in 1993, receiving the top prize for corporate finance, while working full time 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. He joined Citigroup in 2000 as senior vice-president of corporate development in New York, at the age of 36.
In February 2005 — only six months before NAB hired him — Fahour was named chief executive of Citigroup Australasia. As part of his deal to join NAB, the bank is “compensating” Fahour with an upfront payment for what he would 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 made a big bet on Ahmed Fahour, offering him a four-year contract worth about $34 million if he meets all performance targets, otherwise earning $1.5 million per year if tagets are not met. Fahour is among the highest-paid executives in Australia, running the biggest division of the country’s biggest bank. He started work in the new role on September 1 2004, and the entire business community is watching his performance very closely.
He was ranked 54 in Business Review Weekly's for 2004.
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