The managing director and chief executive officer of MyState Ltd has tendered his resignation and is set to leave the company in July, the company has announced.
Tasmania-based banking and wealth management group MyState Ltd (MyState) has revealed that its managing director and CEO, Melos Sulicich, has advised the board of his decision to resign.
According to Mr Sulicich, who first joined the company from Westpac in 2014, the decision has been spurred by the wish to move back to Sydney to be with his family.
As such, the MyState MD and CEO will leave the company in July 2020, in accordance with his contract.
In a statement, Mr Sulicich said: “After almost six years living away from my family in Sydney, I have made a personal decision to return home permanently. It has been a privilege to be the managing director and CEO of MyState, and I am proud of the transformation achieved during my time with the company.
“We are a significantly different business now and have created a banking and wealth management business that is well set for the future. I believe the time is now right to let someone else take the business into its next phase of growth and development.”
He continued: “I would like to take the opportunity to express my appreciation and thanks to the entire MyState staff and board for their commitment, dedication and support. We have a high-calibre team and board that is well positioned to build on the momentum of the strategic program of work and the achievements made to date.”
Miles Hampton, the chairman of MyState’s board, said Mr Sulicich has provided outstanding leadership, adding that the board was appreciative of “the commitment he has brought to the business” and wished him well.
Mr Hampton commented: “Melos has overseen a period of substantial growth, with the banking loan book doubling to in excess of $5 billion. At the same time, Melos has led the digital transformation of the business, with MyState now rapidly growing its customer base and loan book across mainland Australia.
“But, perhaps most significantly, Mr Sulicich has successfully led us through a very challenging period for the banking industry in Australia. Customer satisfaction measures clearly indicate that we have a culture where the interests of our customers are paramount.”
Mr Hampton said the company will shortly commence the process to appoint a new managing director and CEO.
[Related: Non-major appoints interim CFO]
Annie Kane is the editor of The Adviser and Mortgage Business.
As well as writing about the Australian broking industry, the mortgage market, financial regulation, fintechs and the wider lending landscape – Annie is also the host of the Elite Broker and In Focus podcasts and The Adviser Live webcasts.
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