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Bank of Sydney reveals organisational restructure

by Josh Needs10 minute read

The lender’s strategic reshuffle has seen two existing and one added team member step into new roles.

The Bank of Sydney has revealed it has undertaken “strategic enhancements” to its structure, which it says will mark a “decisive leap towards elevated customer experiences, operational efficiency and forward-looking strategies”.

Chief executive of the lender, Melos Sulicich, said: “These appointments epitomise our unwavering dedication to evolving into a pioneering challenger bank renowned for delivering unparalleled service.

“By fortifying our capabilities and streamlining operations, we strategically position ourselves to foster growth, all while keeping customers firmly at the forefront of our endeavours.”


One of the restructuring’s primary changes was the appointment of Maria Karavias to a new role for the bank, chief marketing officer.

Bank of Sydney said the added role was aimed at optimising its customer value proposition with Ms Karavias’ focus to be on refining customer segmentation strategies and enhancing customer experiences.

With previous exploits in senior marketing, product and digital roles within News Corp, Westpac, St.George, and Woolworths, along with running her own marketing consultancy business, the lender said Ms Karavias was “poised to drive exceptional customer and business outcomes”.

Gary English was also shifted from his position as chief risk officer to chief operating officer as part of the restructuring.

The lender said it would see Mr English spearhead the newly established operating function that will oversee the property and procurement, operations, and IT departments, synergising policies, processes, and initiatives to improve both customer and business outcomes.

Having joined Bank of Sydney in 2017, the lender said in his new role Mr English would continue to provide extensive expertise with over three decades in financial services.

The bank also revealed Stella Grilis would step into the position of acting chief risk officer, which would report directly to the CEO and be a key part of the executive committee.

Having joined Bank of Sydney in 2004, Ms Grilis has worked her way up the ranks in roles such as financial control officer, management regulatory accountant, and credit and liquidity risk manager before this latest appointment.

The lender said in the role she would oversee the risk function and ensure the bank’s risk management strategies safeguarded the interests of customers, employees, and stakeholders.

Mr Sulicich said the changes were due to the bank looking to “seize the moment and emerge as a customer-centric alternative”, amid consumers wavering trust due to interest rate shifts at the major players.

He said: “The shift towards personalised financial services seamlessly aligns with the bank’s core values. Bank of Sydney’s distinctive promise of high-touch customer support sets it apart from larger competitors resonating with customers who prioritise reliable banking relationships.

“The bank’s primary objectives encompass customer-centric interactions, adaptive product design, and surpassing customer expectations – a commitment ingrained in its very DNA.”

[Related: SME lender welcomes 2 senior BDMs]

gary english stella grilis maria karavias ta rsr sj


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