The Australian Prudential Regulation Authority has announced the appointment of a new executive general manager for its specialised institutions division.
Mark Adams, a former executive general manager of business banking at National Australia Bank, will leave his role as acting chief operating officer of consultancy firm Versent to assume his new position at APRA.
The chairman of the prudential regulator, Wayne Byres, said that Mr Adams’ extensive experience influenced APRA’s decision to make the appointment.
“Mark brings to APRA valuable commercial experience across a range of business activities, and a strong commitment to serving the Australian community by ensuring a sound and well-managed financial system,” Mr Byres said.
The appointee’s other roles at NAB include executive GM of global market sales, head of foreign exchange, director of financial institutions group, director of debt capital markets and global head of foreign exchange institutional sales.
Prior to his work at NAB, the qualified chemical engineer worked in the mining and oil industries both domestically and internationally.
Mr Adams will replace outgoing executive general manager Ben Gully, who resigned from the position for personal reasons.
The new GM will assume his role at APRA beginning 4 December.
[Related: APRA eager to wind back lending curbs]