Heritage Bank has announced the appointment of a former NSW government minister and the outgoing chair of COBA to its board of directors.
Heritage Bank chairman Kerry Betros has announced the appointment of Wendy Machin to the bank’s board, effective immediately.
Ms Machin has spent the last four years as chair of the Customer Owned Banking Association (COBA) and currently serves as chair of the Australasian New Car Assessment Programme and Reflections Holiday Parks, while also serving as a director of the NSW Forestry Corporation.
The new appointee has also previously served as the president and a director of the NRMA, and as a director of Destinations NSW, the Australian Automobile Association and the National Occupation Licensing Authority.
Prior to her service in the private sector, Ms Machin spent 11 years as a member of the NSW Legislative Assembly, including a period as minister for consumer affairs.
Commenting on the appointment, Mr Betros said: “Appointing Wendy Machin to the Heritage board adds a wealth of business acumen and expertise that will be invaluable for us in delivering ongoing success for our members.
“Ms Machin’s experience at COBA and at the NRMA gives her a detailed understanding of both the banking world and member-owned organisations. That’s essential in helping us continue to guide Heritage in serving the best interests of our members,” the Heritage chair said.
“She has forged a successful career across a variety of other industry sectors and organisations, which has given her a broad range of skills and expertise.”
He added: “The significant network of contacts she has developed across her career, both in our industry and in government Australia-wide, and her long history of dealing with regulators and legislators, will be of considerable assistance to Heritage.”
Ms Machin said: “I am delighted to be joining the board of Heritage Bank, particularly in this post-royal commission period.
“As a customer-owned bank, Heritage offers a different business model that puts customer interests ahead of investor dividends, unlike the big four banks.
“Heritage is one of the oldest customer-owned financial institutions in the country, with a history stretching back to 1875, and understands how to deliver banking with a ‘people first’ difference.”
She concluded: “Heritage is a great brand, and there is huge potential to increase its footprint nationally to make more people aware of the outstanding customer experience it has to offer.”
[Related: Former Latitude exec joins non-bank lender]
A big four bank has committed to cease paying referral payments t...
Brokers are being asked to submit expressions of interest in whet...
The corporate regulator has cancelled the financial services lice...