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Heavey signals Suncorp departure

by Staff Reporter8 minute read
The Adviser

Hot on the heels of the departure of Suncorp Bank’s chief executive David Foster, Steven Heavey, general manager intermediaries has today announced he has resigned and will leave Suncorp in three months time.

Mr Heavey was appointed to the Suncorp role in September 2011 to lead the lender's reemergence into the mortgage broking channel, with a primary focus on growing mortgage and small business distribution via intermediaries.

Over the past two years, Suncorp has significantly boosted its market share in the mortgage broking channel in the wake of the global financial crisis, during which Suncorp effectively exited distribution via brokers. Mr Heavey's appointment at that time was seen by the market as a strong commitment to the channel from the bank.

Speaking exclusively to The Adviser, Mr Heavey said the decision to leave Suncorp Bank had been a difficult one. However, he added that he was looking forward to the next stage in his career. He felt his drive to reintroduce trail commission, the improvements in the back office and the investment in electronic processing had significantly strengthened the bank’s proposition, and had given brokers renewed confidence in referring their customers to Suncorp.

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“The last two years at Suncorp have been amongst the most successful of my career and so it’s been hard making the decision to move on, but the time is right for me to look for a new challenge. Suncorp is now considered a viable alternative to the majors and I feel I’ve now achieved what I set out to do for the bank,” Mr Heavey said.

Mr Heavey spent more than six years as general manager of distribution at St George Bank and was involved in the roll out of the Bank of Melbourne brand in Victoria. Prior to that, he was at ANZ, where he built and developed the lender's mortgage franchise distribution channel.

His career in the mortgage broking industry began in 1999 with Mortgage Choice where he was Queensland state manager, later being promoted to the role of national lending manager.

Mr Heavey was reluctant to disclose his next move; however, he stated that his future remained firmly within the mortgage and finance industry.

The Adviser can reveal that Steven Degetto will take on the role of acting general manager intermediaries.

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