PLAYING A DIFFERENT GAME
Written on the 27 June 2014 by Laura Daquino
BANK of Queensland (ASX: BOQ) CEO Stuart Grimshaw may be playing a different game to everyone else in the banking industry, but he still wants to see a level playing field for all participants in the sector.
RISK, BUT DON’T SWIM WITH BIG FISH
If the big banks are the traditional mansions in the exclusive pocket of the city, BOQ is the contemporary home in the hip new suburb.
ALIGNMENT IS KEY
Grimshaw says the product and practices can be easily replicated, but the BOQ people can’t.
A FAIR PLAYER
Grimshaw, an ex-Olympian hockey player, always plays a fair game.
The submission is based on major banks being able to set aside much less capital for the exact same mortgage than regional banks.
Operating from a different mindset and taking risks in the banking world obviously isn’t without its challenges.
A DIVERSE WORKPLACE
This is where the BOQ diversity policy comes into play, which was created with a goal of growing the company’s female staff from 22.5 per cent to 30 per cent of the workforce by the end of 2015.
HAVE AN OPEN PLAN
Nevertheless, despite Grimshaw describing what seems to be a natural career progression, he offers the advice of having an open plan.