NIB man to head European arm of NAG

Mr Grahame Savage, chief executive of National Irish Bank (NIB) and Northern Bank, has been appointed managing director, National Australia Group (NAG), Europe. Mr Don Price, chief operating officer with Northern Bank, is to replace Mr Savage.

The appointments are among a number announced yesterday as part of the NAG's global business strategy, announced in April and aimed at improving the group's competitive position around the world. The strategy includes a £167 million "restructuring" which is to lead to an as yet unspecified number of job cuts around the world, including Ireland.

Mr Ross Pinney, the present managing director of the group's European division, has been appointed executive general manager, products and services, NAG. He will be based in Melbourne, Australia.

Mr Pinney visited Dublin recently where he attended a press briefing concerning with the ongoing controversy at NIB. Mr Savage has been to the fore in defending the bank ever since the controversy began in January.

Mr Savage began his banking career with Yorkshire Bank in 1973 and in recent years has held senior management positions in NAG in Australia and Europe. Mr Price joined Northern Bank as chief operating officer in April 1998. From Hollywood, Co Down, Mr Price was previously managing director of Belfast Telegraph Newspapers (1995 to 1998) and of Northern Ireland Railways (1992 to 1995).