Judo Bank announces new CEO

Mr Healy first started the SME-focused lender alongside a troop of former National Australia Bank executives in 2016 and was at the helm during critical milestones of the bank’s development, including its launch into broker channel, its transition to a bank and its listing on the ASX.

While he had started the lender as co-CEO alongside David Hornery, he was named the sole CEO in 2021.

On Tuesday (20 February), while releasing the bank’s latest financial results, Judo Bank co-founder and chairman Peter Hodgson revealed that Mr Healy would be stepping down from his position and handing over to his successor next month.

Mr Hodgson commended Mr Healy for his “exceptional leadership and vision” over the last seven years, stating: “Joseph is a visionary who recognised that SMEs were being underserved by our Australian banks. Under Joseph’s leadership, Judo has changed Australia’s banking industry for the better, and reawakened the industry’s appetite to lend to Australian businesses. He is leaving a great legacy.

“Joseph has successfully led the bank through all its important foundational milestones since 2016 – proving the customer value proposition, recruiting an industry-leading team, obtaining a banking licence, raising $1.5 billion in equity, and transitioning the bank to the public equity markets.”

He noted that Judo was the first bank to list on the ASX in 30 years and became the fastest start-up bank to achieve profitability in the world, after achieving it in three years.

Outgoing CEO Mr Healy said: “I extend my sincere thanks to the entire Judo team for their support and commitment to our great business.

“My time at Judo has been the highlight of my career and I am sure that the best is still to come for Judo.”

Chris Bayliss named CEO and MD

Chris Bayliss, an original co-founder and Judo’s deputy CEO and chief relationship officer, will succeed Mr Healy as CEO and managing director on 19 March 2024.

However, Mr Healy will remain as an adviser to Mr Bayliss until 28 June 2024 to help manage the transition.

The outgoing CEO commented: “Chris brings all that Judo needs for its next phase of growth – a deep history of our business, a passion for customers and our purpose, an unparalleled breadth of experience in all aspects of banking, and outstanding, proven leadership skills which will continue to drive the Judo team and to challenge the traditional banking landscape and deliver more for our SME customers.

“The business is in great hands.”

Judo Bank chair Mr Hodgson added that Mr Bayliss was well equipped for the role, highlighting that he had already been “a key leader” in building the bank and has extensive international banking experience, which includes senior executive positions at Standard Chartered Bank in Singapore, Yorkshire/Clydesdale Bank in the UK, National Australia Bank, and Bank of New Zealand.

“Since the very beginning, Chris has been a key leader in building our bank. He has worked tirelessly and with clear purpose and drive across every corner of Judo as it has grown in both strength and size,” the Judo Bank chair said, flagging that Mr Bayliss has held positions as chief operating officer, chief financial officer, chief relationship officer, and deputy CEO over the lender’s history.

“In each of these roles, he has applied his 40 years of business and retail banking experience, which has played an enormous part in building the bank we see today – a bank on a clear path to becoming a scale player in the Australian financial landscape.

“Chris has a deep understanding of relationship banking along with the energy for people leadership that will help Judo Bank achieve its next phase of growth and scale, and we’re conscious of the seamless transition this internal appointment will bring for the business.”

Commenting on his appointment as incoming CEO and MD, Mr Bayliss commented: “Judo has an increasingly important role to play for the SMEs of this country, and I’m honoured to be chosen to lead the exceptional team at Judo through its next phase of growth.

“It has been an absolute privilege to work alongside Joseph to build this unique bank. A big part of what we see today, is credit to his unwavering determination to push through and demand more for the SME community.

“He can be proud to have been a crucial pillar for a business that now serves over 4,000 SME customers with close to $10 billion in lending, and an industry leading team who have never been more excited about the prospects for this company.”

The incoming CEO will be paid $1,000,000 per annum, inclusive of superannuation.

[Related: ‘Uneven’ soft landing for economy in FY24: Judo Bank]