A non-major bank has appointed a new managing director after its current head announced his resignation.
Bankwest has appointed the first female to lead the organisation in its 124-year history after Rowan Munchenberg announced to colleagues that he is stepping down from the role of managing director to pursue other opportunities.
The subsidiary of the Commonwealth Bank of Australia (CBA) has promoted former Bankwest executive general manager, personal and retail banking, Sinead Taylor to the managing director role. She will be confirmed in the role permanently subject to regulatory approval.
Mr Munchenberg is stepping down after nearly three years in the role, and said now was the right time for him to explore new opportunities.
Commenting on her appointment, Ms Taylor said she was excited to lead Bankwest into its 125th year and beyond.
“We’re in a very strong position to continue to meet the changing needs of our customers and grow the Bankwest brand and business in our home state of WA and nationwide,” she said.
“We’re sending a clear signal of our intent to be bold and different in our customer focus with innovations such as the Bankwest Halo ring, in-app messaging, home loan digital signing, a multi-year Bankwest Stadium partnership in western Sydney and our Bank Less branding position.
“And we intend to maintain our 124-year support for the prosperity of the communities and economy of WA through key partnerships and sponsorships.”
CBA group executive for retail banking services Angus Sullivan said Ms Taylor’s appointment demonstrated the bank’s commitment to developing high quality leaders.
“Sinead has a clear focus on improving customers’ financial wellbeing and I have no doubt she will continue this focus in her new role, leading a business that has strengthened under the stewardship of Rowan and his team,” he said.
Mr Sullivan thanked Mr Munchenberg for his vision and leadership during his time with Bankwest.
“He has secured a firm foundation for the future by prioritising investment in Bankwest’s digital and broker offering, embedding new ways of working to deliver enhanced customer experiences more rapidly, safely and securely and revitalising the Bankwest brand,” he said.
[Related: AFG state manager joins Loan Market]
Malavika Santhebennur is the features editor on the mortgages titles at Momentum Media.
Before joining the team in 2019, Malavika held roles with Money Management and Benchmark Media. She has been writing about financial services for the past six years.
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