Ahmed Fahour
Encyclopedia
Ahmed Fahour is a business executive currently serving as the Managing Director and CEO of Australia Post
and was formerly the Chief Executive Officer
of the Australian operations of the National Australia Bank
(NAB).
from 1984. After a brief spell as a graduate trainee at the ANZ Bank
, he went on to complete his Master of Business Administration
degree 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 Co-Managing Director of its joint-venture investment company, Iformation.
in 2000 as senior vice-president of corporate development in New York
, at the age of 36. Subsequently, around 2002, Fahour became CEO of Citigroup Alternative Investments where he was responsible for consolidating all the non-traditional investment businesses (Private Equity, Hedge Funds, Real Estate) In February 2004 Fahour was named chief executive of Citigroup (Australia and New Zealand).
Fahour joined the National Australia Bank (NAB) in September 2004 as an Executive Director and Australian CEO. One month later, he became a principal Board member of the bank. Fahour focused on building a new brand, culture and service proposition at NAB. Under his leadership, there was a major turnaround in the performance of the bank and its wealth management subsidiary (MLC).
In February 2009, Fahour was appointed as interim CEO of the Australian Business Investment Partnership, an organisation which ultimately did not secure approval from the Australian Senate
. In July 2009, he was appointed as CEO at Gulf Finance House
, based in Bahrain
, where he was responsible for developing the bank’s strategic direction and overseeing a major capital raising.
. There, he commenced a business renewal program, called "Future Ready". The program involves the implementation of a more customer-focussed business model that is designed to capitalise on Australia Post’s reputation as a trusted services provider. Under the Future Ready restructure, Fahour created four new strategic business units: Postal Services, Retail Services, Distribution & Express Services, and e-Services. This program has yet to deliver results as Australia Post's 2010 profit dropped by over 60% compared to the previous year and the announcement of closure of Post offices has been met with stiff community resistance
Group; a Business Ambassador for Melbourne's northern suburbs (appointed by the Premier of Victoria); a Senior Fellow of the Financial Services Institute of Australasia
Australia Post
Australia Post is the trading name of the Australian Government-owned Australian Postal Corporation .-History:...
and was formerly the Chief Executive Officer
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
of the Australian operations of the National Australia Bank
National Australia Bank
National Australia Bank is one of the four largest financial institutions in Australia in terms of market capitalisation and customers. NAB is ranked 17th largest bank in the world measured by market capitalisation...
(NAB).
Early life and career
Fahour was born in Syria in 1966, and migrated to Australia with his parents in 1970. He studied at St Joseph's College in North Fitzroy, and later attended Redden College in Preston. After high school, he attended Latrobe University in MelbourneMelbourne
Melbourne is the capital and most populous city in the state of Victoria, and the second most populous city in Australia. The Melbourne City Centre is the hub of the greater metropolitan area and the Census statistical division—of which "Melbourne" is the common name. As of June 2009, the greater...
from 1984. After a brief spell as a graduate trainee at the ANZ Bank
ANZ Bank
The Australia and New Zealand Banking Group Limited , commonly called ANZ, is the fourth largest bank in Australia, after the Commonwealth Bank, Westpac Banking Corporation and the National Australia Bank. Australian operations make up the largest part of ANZ's business, with commercial and retail...
, he went on to complete his Master of Business Administration
Master of Business Administration
The Master of Business Administration is a :master's degree in business administration, which attracts people from a wide range of academic disciplines. The MBA designation originated in the United States, emerging from the late 19th century as the country industrialized and companies sought out...
degree at Melbourne Business School
Melbourne Business School
Melbourne Business School is a business school located in Melbourne, Australia that has been ranked in the Financial Times since 2005 and The Economist Top 20 in the World. MBS was placed as the second best business school in the Asia-Pacific in the 2010 QS Global 200 Business Schools Report....
in 1993 while working for Boston Consulting Group
Boston Consulting Group
The Boston Consulting Group is a global management consulting firm with offices in 42 countries. It is recognized as one of the most prestigious management consulting firms in the world. It is one of only three companies to appear in the top 15 of Fortunes "Best Companies to Work For" report for...
. He became a director of the group in 1997 and spent a year as Co-Managing Director of its joint-venture investment company, Iformation.
Banking executive
He joined CitigroupCitigroup
Citigroup Inc. or Citi is an American multinational financial services corporation headquartered in Manhattan, New York City, New York, United States. Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate...
in 2000 as senior vice-president of corporate development in New York
New York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
, at the age of 36. Subsequently, around 2002, Fahour became CEO of Citigroup Alternative Investments where he was responsible for consolidating all the non-traditional investment businesses (Private Equity, Hedge Funds, Real Estate) In February 2004 Fahour was named chief executive of Citigroup (Australia and New Zealand).
Fahour joined the National Australia Bank (NAB) in September 2004 as an Executive Director and Australian CEO. One month later, he became a principal Board member of the bank. Fahour focused on building a new brand, culture and service proposition at NAB. Under his leadership, there was a major turnaround in the performance of the bank and its wealth management subsidiary (MLC).
In February 2009, Fahour was appointed as interim CEO of the Australian Business Investment Partnership, an organisation which ultimately did not secure approval from the Australian Senate
Australian Senate
The Senate is the upper house of the bicameral Parliament of Australia, the lower house being the House of Representatives. Senators are popularly elected under a system of proportional representation. Senators are elected for a term that is usually six years; after a double dissolution, however,...
. In July 2009, he was appointed as CEO at Gulf Finance House
Gulf Finance House
Gulf Finance House is an Islamic investment bank with headquarters in Bahrain Financial Harbour, Bahrain.Gulf Finance House was Euromoneys "Best Islamic Real Estate Finance House" in 2005 and Arabian Businesss "Bank of the Year" in 2006....
, based in Bahrain
Bahrain
' , officially the Kingdom of Bahrain , is a small island state near the western shores of the Persian Gulf. It is ruled by the Al Khalifa royal family. The population in 2010 stood at 1,214,705, including 235,108 non-nationals. Formerly an emirate, Bahrain was declared a kingdom in 2002.Bahrain is...
, where he was responsible for developing the bank’s strategic direction and overseeing a major capital raising.
Australia Post
In December 2009, Fahour was announced as the new Managing Director and Chief Executive Officer of Australia PostAustralia Post
Australia Post is the trading name of the Australian Government-owned Australian Postal Corporation .-History:...
. There, he commenced a business renewal program, called "Future Ready". The program involves the implementation of a more customer-focussed business model that is designed to capitalise on Australia Post’s reputation as a trusted services provider. Under the Future Ready restructure, Fahour created four new strategic business units: Postal Services, Retail Services, Distribution & Express Services, and e-Services. This program has yet to deliver results as Australia Post's 2010 profit dropped by over 60% compared to the previous year and the announcement of closure of Post offices has been met with stiff community resistance
Other roles
Fahour is Chairman of the Rip CurlRip Curl
Rip Curl is a major Australian manufacturer and retailer of surfing sportswear The company was founded in 1969 by Doug Warbrick and Brian Singer in Torquay, Victoria, Australia and initially produced surfboards. In 1970, they decided to begin production of wetsuits, with emphasis on transforming...
Group; a Business Ambassador for Melbourne's northern suburbs (appointed by the Premier of Victoria); a Senior Fellow of the Financial Services Institute of Australasia