Suncorp Group this week announced the appointment of Michael Cameron to the position of group CEO and managing director, with a start date of October 2015.
Mr Cameron replaces Patrick Snowball, who will step down as group chief executive after leading the listed company for six years.
Mr Cameron is currently CEO and managing director of GPT, a position he has held for six years, and he has been a non-executive director of Suncorp Group since April 2012.
He has more than 30 years’ experience in finance and business having held senior leadership roles with St George Bank, Commonwealth Bank, National Australia Bank, MLC, Lend Lease and Barclays.
Zygmunt (Ziggy) Switkowski, chairman of Suncorp, commended Mr Snowball for his exceptional leadership and acknowledged Suncorp’s progress during his tenure.
“Patrick Snowball has steered the Suncorp Group through a major transformation, which has simplified operations, realised efficiency benefits and strengthened the capital base,” Dr Switkowski said.
"Today, we are a vastly improved diverse financial services business with good prospects and are providing attractive and sustainable returns to our shareholders.
“As importantly, Patrick has successfully fostered a culture of innovation, employee engagement, accountability and process discipline which provides a solid foundation upon which Michael can build,” he said.
Mr Snowball confirmed his commitment to leading the business as Mr Cameron transitions into the role.
“I remain focused on leading the team toward our full-year result and look forward to working with Michael as he transitions into the group CEO role,” Mr Snowball said.
“While on the board, Mr Cameron has endorsed Suncorp’s ‘One Company, Many Brands’ strategy that provides diversified financial services to the group’s nine million customers across Australia and New Zealand,” he said.
“He brings a depth of relevant experience and this is the right appointment at the right time.”
Dr Switkowski said Mr Cameron was an outstanding candidate for the role.
“His understanding of Suncorp and the financial services industry combined with his disciplined and long-term approach to business makes him the ideal person to lead the company through its next phase of growth,” he said.
[Related: Bank CEO to step down]
James Mitchell has over eight years’ experience as a financial reporter and is the editor of Wealth and Wellness at Momentum Media.
He has a sound pedigree to cover the business of mortgages and the converging financial services sector having reported for leading finance titles InvestorDaily, InvestorWeekly, Accountants Daily, ifa, Mortgage Business, Residential Property Manager, Real Estate Business, SMSF Adviser, Smart Property Investment, and The Adviser.
He has also been published in The Daily Telegraph and contributed online to FST Media and Mergermarket, part of the Financial Times Group.
James holds a BA (Hons) in English Literature and an MA in Journalism.
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