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Regional bank announces MD replacement

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Reporter 4 minute read

A lender has announced a replacement for its long-serving managing director.

Bendigo and Adelaide Bank has announced that chief customer officer Marnie Baker will replace outgoing managing director Mike Hirst, effective 2 July 2018.

Since joining the bank in 1989, Ms Baker has held several roles, gaining experience in treasury, capital markets, technology and payments systems, digital strategy, retail banking and funds management.

“Marnie has been instrumental in driving the successful delivery of our customer-connected strategy which has delivered significant commercial and reputational value for the business,” chairman Robert Johanson said.

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Ms Baker said that she was “extremely excited by the opportunity” to build on the lender’s market position.

“Working for and on behalf of all of our stakeholders — including our customers, shareholders, our people, partners and the community — and feeding into their prosperity has defined who we are for the past 160 years,” the new MD said.

“The current focus on trust and fairness for consumers plays to our strengths, and it presents us with a tremendous opportunity.”

Mr Johanson thanked outgoing managing director Mr Hirst for his “exceptional contribution” to the bank’s development in his 15 years of service.

“Mike was appointed in 2009, amidst the depths of the global financial crisis, and not long after the merger with Adelaide Bank,” the chairman said.

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“He has been an outstanding leader and leaves the bank in great shape. Mike has helped build a business that is now the fifth biggest retail bank in Australia.”

Mr Hirst said that he was honoured to have worked at the bank and welcomed Ms Baker’s appointment.

“I’m very pleased that Marnie has been chosen as the new managing director. Her understanding of customers and the bank’s long history of its role in the community are real strengths,” the outgoing MD said.

Ms Baker joined Mr Johanson in thanking Mr Hirst for his contribution.

“It’s been a privilege working with Mike over his entire tenure at the bank. He’s been a great colleague and highly respected leader,” Ms Baker said.

[Related: Non-major announces third-party leadership changes]

Regional bank announces MD replacement
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