National Australia Bank refashioned its management committee, shifting long serving lieutenant Peter Thodey to London to manage legacy portfolio of the old nabCapital business. Thodey most recently managed human capital for the bank.Thodey's chief task is to manage NAB's conduit assets that the bank most recently estimated have a book value of $18 billion and a fair value of $14 billion. These conduits include $1.8 billion of synthetic collateralised debt obligations, $1.1 billion of credit wrapped asset backed securities, $2 billion of leveraged loan collateralised loan obligations, $4.5 billion in Australian mortgages, and various other assets. In a report last week Merrill Lynch analyst Matthew Davison speculated that NAB might have to make additional collective provisions of $300 million for the conduit assets and possibly another $500 million in higher expected capital provisions. In other management changes Colleen Harris will become executive general manager human capital and strategy and join the management committee, NAB said in a statement published through the ASX yesterday.The Australian reported that NAB's head of corporate affairs John Simpson will shift to work in the office of the chief executive on long-term strategic planning, possibly with a bank and industry image theme. Greg Sutherland, executive general manager brands and strategy, will now manage corporate affairs for the bank, the newspaper reported.