Alex Bank appoints CCO

The newly created role will have Steve Degetto responsible for building out Alex Bank’s broker and sales teams as the non-major bank further develops its broker channel.

The new appointee brings 25 years of experience in banking, insurance, and financial services to the role, having previously worked as a chief commercial officer at Helia (formerly Genworth).

Furthermore, Mr Degetto has specialised in the area of intermediary distribution for over 15 years with Suncorp Bank, Macquarie Bank, and the Commonwealth Bank of Australia.

Prior to joining Alex Bank as CCO, Mr Degetto was a consultant to the non-major bank for 18 months on sales and distribution, as well as serving as joint managing director for the finance broking business, Natloans Group.

Chief executive of Alex Bank, Simon Beitz, commented on Mr Degetto’s appointment: “Steve’s experience and expertise will be instrumental in the growth and success of Alex Bank’s broker business. I’m thrilled to have Steve on board at this pivotal time of growth for Alex Bank.”

Mr Degetto stated he is excited to join the non-major bank during this stage of its growth and to
“help build out the broker and sales teams”.

“Alex Bank’s focus on providing a customer experience that prioritises speed and simplicity for brokers and their customers, while being tailored to individual needs is very impressive. I look forward to working with the team to drive continued success,” Mr Degetto said.

This appointment follows Alex Bank reporting rapid loan growth coming from the broker channel in between January and February of this year, with 90 per cent of new loans being stemmed from brokers since it was granted a full banking licence from the Australian Prudential and Regulation Authority (APRA).

New state manager Victoria

Mr Degetto’s appointment follows the appointment of Andrew Peng as Alex Bank’s new state manager for broker partnerships in Victoria.

Mr Peng has since commenced with his role, bringing over 10 years of experience in the finance industry, having previously held roles with Latitude Financial Services as a relationship manager in Victoria where he supported brokers with car loans and personal loans.

Alex Bank chief growth officer Sascha Hunt said: “Andrew’s appointment is a testament to our commitment to continue to invest in our broker network.

Written by Adrian Suljanovic

Last Updated: 18 April 2023

Published: 19 April 2023