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Non-major reshuffles executive team

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Reporter 5 minute read

A regional bank has announced changes to its executive team, which include the appointment of a new chief operating officer, chief financial officer and group executive of retail banking.

The Bank of Queensland (BOQ) has appointed Anthony Rose as chief operating officer (COO), moving on from his position as chief financial officer (CFO).

Replacing Mr Rose as CFO will be Matt Baxby, who will depart his role as group executive of retail banking.

Mr Rose and Mr Baxby will assume their new roles on 14 May.

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Further, the Commonwealth Bank’s (CBA) executive general manager of wealth advice, Lyn McGrath, will replace Mr Baxby as group executive of retail banking, effective as of 1 August.

As COO, Mr Rose will be responsible for steering BOQ’s response to industry and regulatory change and driving operational improvements.

Commenting on Mr Rose’s appointment, managing director and CEO of BOQ John Sutton said: “Since joining BOQ in 2012, Anthony Rose has played a key role in BOQ’s turnaround in business performance. He has led the group’s finance functions in supporting improved business resilience and the rollout of BOQ’s strategy.”

Mr Baxby was appointed group executive of the retail bank in 2012 after serving for 10 years at the Virgin Group in strategy, investment and as managing director of Virgin Money Australia.

“Under Matt’s leadership of the retail bank, he steered the acquisition of Virgin Money Australia which has proven to be a driver of growth, diversified BOQ’s customer channels and transformed the business from a monoline distributor of mortgages to a geographically diverse multichannel retail bank,” Mr Sutton added.

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The CEO also welcomed Ms McGrath to BOQ’s leadership team.

“Lyn is a highly respected banking professional and has more than 20 years’ experience in the sector. Lyn brings with her strong leadership skills and an outstanding track record in retail banking,” Mr Sutton said.

“Her passion for customers and the teams she leads makes her a strong cultural fit for BOQ.”

BOQ noted that the positions of chief risk officer (Peter Deans), group executive of business (Brendan White) and chief digital and information officer (Donna-Maree Vinci) remain unchanged.

However, the non-major is currently looking to replace outgoing group executive of people and culture Belinda Jefferys, who announced her retirement in April.

[Related: Lending slows by 18% at regional bank]

Non-major reshuffles executive team
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