Frank Cicutto
Australian business executive (1950–2025)
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Francis John Cicutto (1950 – 10 January 2025) was an Australian business executive and banker. He was chief executive officer of the National Australia Bank (NAB) from 1999 to 2004.
1950
- Benilde High School
- St John's College, Lakemba
- University of New South Wales (BCom)
Frank Cicutto | |
|---|---|
| Born | Francis John Cicutto 1950 Spilimbergo, Italy |
| Died | 10 January 2025 (aged 74–75) |
| Other name | Frank Ciccutto |
| Education |
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| Occupations |
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| Years active | 1967–2007 |
| Employer | National Australia Bank |
| Spouse | Christine Cicutto |
| Children | 1 |
Early life
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] He was educated at Benilde High School in Bankstown and St John's College in 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
Cicutto joined the National Australia Bank in 1967 as a 17-year-old and was employed by the bank 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
Cicutto lived in Canterbury in Melbourne, Victoria.[16] He died on 10 January 2025 following an illness.[17][18]