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{{Short description|Australian business executive (c.1950–2025)}}
Frank Cicutto was ] of NAB from 1999 to 2004. The Australian economic environment during his leadership was stable and productive after 17 consecutive years of economic growth since 1992, averaging 3.3 per cent per annum.
{{Use Australian English|date=March 2014}}
{{Use dmy dates|date=March 2014}}
{{Infobox person
| name = Frank Cicutto
| birth_name = Francis John Cicutto
| birth_date = 1950
| birth_place = ], Italy
| death_date = {{Death date and age|2025|01|10|1950|df=y}}
| death_place = ], ], Australia
| other_names = Frank Ciccutto
| years_active = 1967–2007
| education = {{Plainlist|
*]
*St John's College, Lakemba
*] (])
⚫ }}
| occupation = {{hlist|Business executive|banker}}
| employer = ]
| spouse = Christine Cicutto
| children = 1
}}


'''Frank Cicutto''' (1950 – 10 January 2025) was an Italian-born Australian business executive and banker. He was ] of ] (NAB) between 1999 and 2004.
== Leadership & Style ==
Frank Cicutto’s leadership and style has been assessed in the table below using common leadership attribute requirements presented by Hubbard & Beamish.


==Early life==
{| class="wikitable sortable"
Cicutto was born in 1950 in ], Italy.<ref name="earlylife">{{cite web|last=Kirby|first=James|url=https://www.afr.com/companies/peasants-son-nabs-top-spot-19990315-kb4lc|title=Peasants' son nabs top spot|date=15 March 1999|website=]|publisher=]|access-date=13 January 2025}}</ref> At the age of 2, his family migrated to Australia during the ] from Europe, eventually settling in ] in the ] of Sydney.<ref name="earlylife" /> Cicutto was educated at ], ] and St John's College, ].<ref name="LaSalleBankstownAlumni">{{cite news|first=Mark |last=Abernethy |title=Wizard of Oz|url=https://www.afr.com/politics/wizard-of-oz-20050225-j706q |work=The Australian Financial Review|access-date=5 April 2024}}</ref> He studied a ] at the ].<ref name="earlylife" />
|-
! Required leadership attributes !! Strength/limitation of Frank Cicutto
|-
| Be in touch with the organisations operations to maintain control || Limitation - Cicutto wasn’t in touch with poor internal systems that allowed the rogue trading scandal to occur
|-
| Articulate organisational vision/culture || Limitation - Cicutto was quite shy according to insiders and also uncomfortable on camera
|-
| Passion and commitment to gain stakeholder support || Strength - after working for NAB for over 37 years, Cicutto demonstrated tremendous commitment and passion for a bank teller to make it to the top and know the organisation inside out
|-
| Develop rewards and champion role models to reinforce values/behaviours || Strength - given Cicutto employed promising staff such as John Stewart, a strong leader critical to NAB’s eventual turn around
|-
| Commit to actions over words so to make corporate visions/strategies more believable || Limitation - Cicutto’s handling of the rogue trading scandal left investors and analysts frustrated, after Cicutto publically stated a desire to be transparent, only to then cancel press conferences to limit his exposure
⚫ |}


Cicutto played ] for the ] and was club secretary from 1972 to 1975.<ref>{{cite web|last=Hughes|first=Anthony|url=https://www.smh.com.au/national/captain-survivor-on-a-sticky-wicket-20040117-gdi6a7.html|title=Captain Survivor on a sticky wicket|date=17 January 2004|website=]|publisher=]|access-date=13 January 2025}}</ref><ref>{{cite web|last=Rodgers|first=James|url=https://www.sydneyuniversitycricket.com.au/obituaries/2024/8/26/bruce-wilcock|title=Bruce Wilcock|date=8 October 2024|website=]|publisher=]|access-date=13 January 2025}}</ref><ref>https://www.facebook.com/BankstownDistrictCricketClub/posts/pfbid02eDA3hzfDt8KLGNfVTSffsDqcjpDt5enw4q1mvKDoBSyXoAMNk4ea3hNuhxcrJJ5Tl</ref> He later moved to ], where he coached for the Ringwood Cricket Club in ].<ref name="earlylife" />


==Career==
{{bio-stub}}
Cicutto joined the National Australia Bank in 1967 as a 17-year-old and was employed by NAB for 37 years, leaving as ] in 2004.<ref name="age1">{{cite news | title=NAB's Frank Cicutto resigns | url=http://www.theage.com.au/articles/2004/02/02/1075570324810.html | work=The Age | date=2 February 2004 | agency=Australian Associated Press | accessdate=19 December 2012}}</ref>
]

He held multiple executive positions in the company, including executive vice president for Americas in 1988,<ref>{{cite web|last=Mackenzie|first=Stuart|url=https://www.crikey.com.au/2001/12/02/nightmare-on-bourke-street/|title=Nightmare on Bourke Street|date=2 December 2001|website=]|publisher=Private Media|access-date=13 January 2025}}</ref> chief executive officer of ] from 1994 to 1996 and as chief general manager for Australian financial services from 1996 to 1998.<ref>{{cite web|url=https://www.heraldscotland.com/news/12066309.new-chief-appointed-by-clydesdale/|title=New chief appointed by Clydesdale|date=27 October 1995|website=]|publisher=Herald & Times Group|access-date=13 January 2025}}</ref><ref name="aap-timeline">{{cite news | title=Timeline on Frank Cicutto's 37 years with NAB | work=Australian Associated Press | date=2 February 2004 }}</ref> In 1998, Cicutto was appointed to the board of directors as ], before being elected chief executive officer the following year.<ref>{{cite web|last=Cornell|first=Andrew|url=https://www.afr.com/politics/nab-who-shrunk-the-bank-20020413-j84qc|title=NAB: Who Shrunk the Bank?|date=13 April 2002|website=]|publisher=]|access-date=13 January 2025}}</ref> He resigned from National Australia Bank in 2004, amid the controversial ], which involved losses of {{AUD|360 million}} covered up by NAB options traders.<ref>{{cite web|url=https://www.abc.net.au/news/2004-02-02/nab-chief-quits-amid-trading-scandal/128994|title=NAB chief quits amid trading scandal|date=2 February 2004|website=]|publisher=]|access-date=13 January 2025}}</ref><ref>{{cite web|last=Long|first=Stephen|url=http://www.abc.net.au/worldtoday/content/2004/s1036288.htm|title=Frank Cicutto Resigns as NAB boss|publisher=ABC The World Today|date=2 February 2004|access-date=24 February 2017|archive-date=11 May 2017|archive-url=https://web.archive.org/web/20170511213553/http://www.abc.net.au/worldtoday/content/2004/s1036288.htm|url-status=live}}</ref>

Cicutto was the ] of the ] from 1999 to 2001.<ref>{{cite web|last=O'Riordan|first=Ben|url=https://www.afr.com/companies/media-and-marketing/clearing-the-airwaves-laws-on-notice-as-bankers-feud-19990719-k8uw0|title=Clearing the airwaves: Laws on notice as bankers feud|date=19 July 1999|website=]|publisher=]|access-date=13 January 2025}}</ref> 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.<ref>{{cite web|last=Chessell|first=James|url=https://www.smh.com.au/business/not-frank-as-to-who-runs-run-corp-20050919-gdm3dj.html|title=Not Frank as to who runs Run Corp|date=19 September 2005|website=]|publisher=]|access-date=13 January 2025}}</ref><ref>{{cite web|last=Schneiders|first=Ben|url=https://www.theage.com.au/business/former-nab-boss-vacates-the-chair-at-troubled-rent-roll-company-20070220-ge49f2.html|title=Former NAB boss vacates the chair at troubled rent roll company|date=20 February 2007|website=]|publisher=]|access-date=13 January 2025}}</ref>

==Personal life and death==
Cicutto lived in ] in ], ].<ref>{{cite web|last=Smiles|first=Jayitri|url=https://www.realestate.com.au/news/melbournes-most-powerful-streets-where-our-rich-listers-celebs-live/|title=Melbourne’s most powerful streets: Where our rich listers, celebs live|date=17 August 2020|website=]|publisher=]|access-date=13 January 2025}}</ref> He died on 10 January 2025, following an illness.<ref>{{cite web|last=Kane|first=Annie|url=https://www.theadviser.com.au/lender/46575-in-memoriam-frank-cicutto-1950-2024|title=In Memoriam: Frank Cicutto 1950–2024|date=14 January 2025|website=The Adviser|publisher=Momentum Media|access-date=13 January 2025}}</ref><ref>{{cite web|url=https://www.nationaltribune.com.au/statement-on-passing-of-former-nab-ceo-frank-cicutto/|title=Statement On Passing Of Former NAB CEO Frank Cicutto|date=12 January 2025|website=National Tribune|access-date=13 January 2025}}</ref>

==References==
{{Reflist}}
==External Links==
*{{IMDb name| 10948977}}
{{Authority control}}

{{DEFAULTSORT:Cicutto, Frank}}
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Latest revision as of 01:58, 14 January 2025

Australian business executive (c.1950–2025)

Frank Cicutto
BornFrancis John Cicutto
1950
Spilimbergo, Italy
Died10 January 2025(2025-01-10) (aged 74–75)
Melbourne, Victoria, Australia
Other namesFrank Ciccutto
Education
Occupations
  • Business executive
  • banker
Years active1967–2007
EmployerNational Australia Bank
SpouseChristine Cicutto
Children1

Frank Cicutto (1950 – 10 January 2025) was an Italian-born Australian business executive and banker. He was chief executive officer of National Australia Bank (NAB) between 1999 and 2004.

Early life

Cicutto was born in 1950 in Spilimbergo, Italy. 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. Cicutto was educated at Benilde High School, Bankstown and St John's College, Lakemba. He studied a Bachelor of Commerce at the University of New South Wales.

Cicutto played Sydney Grade Cricket for the Bankstown District Cricket Club and was club secretary from 1972 to 1975. He later moved to Melbourne, where he coached for the Ringwood Cricket Club in Ringwood, Victoria.

Career

Cicutto joined the National Australia Bank in 1967 as a 17-year-old and was employed by NAB for 37 years, leaving as chief executive officer in 2004.

He held multiple executive positions in the company, including executive vice president for Americas in 1988, chief executive officer of Clydesdale Bank from 1994 to 1996 and as chief general manager for Australian financial services from 1996 to 1998. In 1998, Cicutto was appointed to the board of directors as chief operating officer, before being elected chief executive officer the following year. 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.

Cicutto was the chair of the Australian Bankers' Association from 1999 to 2001. 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.

Personal life and death

Cicutto lived in Canterbury in Melbourne, Victoria. He died on 10 January 2025, following an illness.

References

  1. ^ Kirby, James (15 March 1999). "Peasants' son nabs top spot". Australian Financial Review. Fairfax Media. Retrieved 13 January 2025.
  2. Abernethy, Mark. "Wizard of Oz". The Australian Financial Review. Retrieved 5 April 2024.
  3. Hughes, Anthony (17 January 2004). "Captain Survivor on a sticky wicket". The Sydney Morning Herald. Fairfax Media. Retrieved 13 January 2025.
  4. Rodgers, James (8 October 2024). "Bruce Wilcock". Sydney University Cricket Club. Sydney Uni Sport and Fitness. Retrieved 13 January 2025.
  5. https://www.facebook.com/BankstownDistrictCricketClub/posts/pfbid02eDA3hzfDt8KLGNfVTSffsDqcjpDt5enw4q1mvKDoBSyXoAMNk4ea3hNuhxcrJJ5Tl
  6. "NAB's Frank Cicutto resigns". The Age. Australian Associated Press. 2 February 2004. Retrieved 19 December 2012.
  7. Mackenzie, Stuart (2 December 2001). "Nightmare on Bourke Street". Crikey. Private Media. Retrieved 13 January 2025.
  8. "New chief appointed by Clydesdale". The Herald. Herald & Times Group. 27 October 1995. Retrieved 13 January 2025.
  9. "Timeline on Frank Cicutto's 37 years with NAB". Australian Associated Press. 2 February 2004.
  10. Cornell, Andrew (13 April 2002). "NAB: Who Shrunk the Bank?". Australian Financial Review. Fairfax Media. Retrieved 13 January 2025.
  11. "NAB chief quits amid trading scandal". ABC News. Australian Broadcasting Corporation. 2 February 2004. Retrieved 13 January 2025.
  12. Long, Stephen (2 February 2004). "Frank Cicutto Resigns as NAB boss". ABC The World Today. Archived from the original on 11 May 2017. Retrieved 24 February 2017.
  13. O'Riordan, Ben (19 July 1999). "Clearing the airwaves: Laws on notice as bankers feud". Australian Financial Review. Fairfax Media. Retrieved 13 January 2025.
  14. Chessell, James (19 September 2005). "Not Frank as to who runs Run Corp". The Sydney Morning Herald. Fairfax Media. Retrieved 13 January 2025.
  15. Schneiders, Ben (20 February 2007). "Former NAB boss vacates the chair at troubled rent roll company". The Age. Fairfax Media. Retrieved 13 January 2025.
  16. Smiles, Jayitri (17 August 2020). "Melbourne's most powerful streets: Where our rich listers, celebs live". realestate.com.au. News Corp Australia. Retrieved 13 January 2025.
  17. Kane, Annie (14 January 2025). "In Memoriam: Frank Cicutto 1950–2024". The Adviser. Momentum Media. Retrieved 13 January 2025.
  18. "Statement On Passing Of Former NAB CEO Frank Cicutto". National Tribune. 12 January 2025. Retrieved 13 January 2025.

External Links

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