NationalAustralia Bank Ltd. said April 4 that Todd Forest was appointed as managingdirector of innovation fund NAB Ventures.

The establishment of the fund is aimed at forming partnershipsand investments in nontraditional companies.

Forest was previously CEO of Clipp Pty. Ltd.

NAB also appointed Melissa Widner as general partner in NABVentures. Widner has worked in venture capital in both the U.S. and Australia.