Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Bank extends tenure of CEO and MD

miles hampton miles hampton
Reporter 4 minute read

The board of MyState Limited has extended the tenure of its current managing director and chief executive officer.

The chairman of Tasmanian lender MyState Limited, Miles Hampton, has announced that the board has extended the tenure of the current managing director and chief executive officer, Melos Sulicich.

Mr Sulicich has been the MD and CEO of the ASX-listed non-operating holding company of the diversified financial services group comprising MyState Bank (including The Rock, a division of MyState Bank) and Tasmanian Perpetual Trustees since July 2014.

His four-year contract finishes on 1 July 2018, after which his tenure will continue on an ongoing basis.


Should the MD and CEO wish to step down, he will be required to give 10 weeks’ notice, while the group would need to give him 26 weeks’ notice or payments in lieu should they wish to terminate his employment.

According to MyState, Mr Sulicich will receive $625,000 per annum inclusive of superannuation.

He will be given a maximum of 50 per cent fixed annual reward (FAR), payable in cash, as a short-term incentive, should he achieve his agreed performance hurdles.

Likewise, his long-term incentive comprises a maximum 50 per cent FAR, payable in MyState Limited shares, should he achieve agreed performance hurdles (subject to shareholder approval).

[Related: MyState reports 15% growth in broker settlements]


Bank extends tenure of CEO and MD
miles hampton
TheAdviser logo

Are you a new-to-industry broker in the process of growing your business? Then there’s some great news: The Adviser’s New Broker Academy is back in 2021 and will provide you with essential insights into cutting-edge tools, strategies and processes to fast-track to success. Don’t miss your chance to attend. To secure your FREE place, visit newbroker.com.au now!

miles hampton


more from the adviser
REA Group logo

Breaking News

Brokerages to integrate as one brand

Mortgage Choice and Smartline will operate under one brand, effe...

handshake news

Breaking News

COG makes acquisition moves

COG Financial Services has grabbed larger stakes in Westlawn and ...

money grants

Breaking News

SocietyOne doubles funding, launches secured loan to public

The personal lender has announced a $200 million warehouse facili...