Frank Cicutto
Francis John Cicutto | |
|---|---|
| Born | 1950 Spilimbergo, Italy |
| Died | 2025-01-10 |
| Occupation(s) | Banking and business leader |
| Years active | 1967–2007 |
| Known for | CEO of National Australia Bank (1999–2004) |
Francis John Cicutto (1950 – 10 January 2025) was an Australian banking and business leader of Italian origin, who held the position of chief executive officer at National Australia Bank (NAB) from 1999 until 2004.
Early life
Cicutto was born in 1950 in Spilimbergo, Italy, and relocated to Australia at the age of two during the post-World War II migration period, with his family settling in Leichhardt, New South Wales, Sydney. He completed his secondary education at Benilde High School in Bankstown and St John's College in Lakemba. Subsequently, he earned a Bachelor of Commerce degree from the University of New South Wales.
In addition to his academic pursuits, Cicutto was active in Sydney Grade Cricket, representing the Bankstown District Cricket Club and fulfilling the role of club secretary between 1972 and 1975. Afterward, he relocated to Melbourne where he took on coaching responsibilities at the Ringwood Cricket Club.
Career
Starting his career at National Australia Bank (NAB) in 1967 as a 17-year-old employee, Cicutto devoted 37 years to the institution before departing as its chief executive officer in 2004.
Throughout his tenure, he occupied multiple senior positions such as executive vice president for the Americas region in 1988, CEO of Clydesdale Bank from 1994 to 1996, and chief general manager overseeing Australian financial services between 1996 and 1998. In 1998, he joined NAB's board as chief operating officer and ascended to CEO the following year. His resignation came in 2004 following a foreign currency trading scandal that resulted in concealed losses amounting to AUD 360 million by NAB options traders.
Between 1999 and 2001, Cicutto was appointed chair of the Australian Bankers' Association. Later, from 2005 until 2007, he chaired Run Corp, a property management company, stepping down after the firm experienced substantial financial setbacks during his leadership.
Personal life and death
Cicutto lived in Canterbury, a suburb of Melbourne, Victoria. He passed away on 10 January 2025 after battling an illness.