Briefs: FTA gets new boss, NAB write-off estimated and ANZ cuts more staff

The Finance and Treasury Association says it has appointed David Michell as its chief executive. Michell joins the FTA from the Australian Centre for Financial Studies, where he was business development manager. Michell served as technical director and deputy CEO of the FTA from 1999 to 2006.

Commonwealth Securities have had a stab at projecting the loss that National Australia Bank may have to wear as it takes another write-down on its commercial property loans in the United Kingdom. The firm's analysts estimated that NAB's provisioning charge against this loan portfolio could reach as much as A$760 million, the Sydney Morning Herald reported. They estimated that this could reduce reported profit for the 2012 financial year by $550 million. One mooted buyer of NAB's UK business - NBNK Investments - has shifted its focus once more to the "Verde" branches that Lloyds Banking Group is selling under direction from the European Union. NBNK did not spell out the value of its new offer to Lloyds, which reports in British media speculate is valued between Â£1.2 billion and Â£1.7 billion.

ANZ cut 230 staff from its wealth management business, mostly in Sydney, the Financial Review reported. The job cuts fall within the target of reducing staff within its Australian division, a goal outlined in February.

AMMB has appointed Mohamed Azmi Mahmood as deputy managing director. Mahmood replaces Ashok Ramamurthy (a nominee of ANZ) who was elevated to managing director at the beginning of the month.