SENIOR EXECS DEPART AFTER BOQ RESTRUCTURE

Written on the 12 March 2015

SENIOR EXECS DEPART AFTER BOQ RESTRUCTURE

BANK of Queensland (ASX:BOQ) will absorb Virgin Money Australia (VMA) into its core retail banking service, resulting in a senior management reshuffle.

VMA and the retail and online banking service will operate under the same banner, renamed Retail Banking.

VMA CEO Brian Bissaker will leave the company after two years in the role, with current retail and online group executive Matt Baxby to lead the new division.

Baxby previously held the role of VMA CEO for three years before joining BOQ in 2012.

The Brisbane-based independent bank says the new organisational structure will streamline roles and better deliver its overarching strategy.

Managing director and CEO Jon Sutton (pictured) says the timing was right to shake up the business and access a new customer base with consolidated banking products.

"Starting as a consultant to look at our wealth management strategy some three years ago, Brian led the deal team when we acquired VMA in May 2013 before agreeing to take on the CEO role," Sutton says.

"Since then, Brian has built momentum in the business to the point where we will start offering Virgin-branded mortgages within the next 12 months.

"Aligning the two businesses to support the bank's overall growth plans in the retail space makes sense and I would like to thank Brian for his contribution and wish him well for the future."

In addition to Bissaker's departure, the general counsel and company secretary roles will be combined and Sutton's former chief operating officer role will not be replaced.

A recruitment process is underway for the new secretarial role, to replace general counsel Brad Edwards and company secretary Melissa Grundy.

"BOQ acknowledges the contribution both Brad and Melissa have made and we thank them for their efforts," Sutton says.

Head of legal Stacey Hester will act as company secretary in the interim.


Latest News

FLYING START TO 2017 PASSENGER NUMBERS FOR GOLD COAST AIRPORT

RECORD numbers of travellers used the Gold Coast Airport (GCA) in January this year, continuing a five-year trend ...

SUNCORP SAYS IT'S 'COVERED' AGAINST FINANCIAL COST OF CYCLONE DEBBIE

INSURER Suncorp (ASX: SUN) says it is "well protected" against the financial impact of Cyclone Debbie th...

ADELAIDE DIGITAL MARKETING GURUS CHANGING THE FACE OF ONLINE RETAILING

Frank Grasso, CEO of Adelaide based Dynamic Creative, believes his company's new software will revolutionise Adwo...

WHY A JUNIOR MINER DECIDED TO JOIN THE RANKS OF THE HOT POT STOCKS

USUALLY, when a relatively unknown explorer experiences a sharp spike in its share price, it means they've fou...

Related News

RAY OF HOPE FOR SLATER AND GORDON AS LENDERS STEP IN

EMBATTLED law firm Slater and Gordon (ASX: SGH) has announced to the ASX that it has launched confidential discussion...

SPROUTX PROVIDES THE SEED FOR AGTECH STARTUPS

AGTECH innovation fund SproutX has opened applications for its first accelerator round, backed by $10 million from...

GAS PRICES MAY FORCE BRICKWORKS TO TAKE MANUFACTURING OVERSEAS

BRICKWORKS Limited (ASX:BKW) chairman Robert Millner says soaring energy prices may force the company to turn to offs...

CHINA CONTINUES TO COLLECT AUSSIE PROPERTY ASSETS

CHINESE coin continues to dominate Australia's offshore real estate investment market, accounting for almost h...

EVENTS COMING UP

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter