Bank of Queensland has announced the appointment of an internal senior executive as its new CEO.
Australia's seventh-largest bank, Bank of Queensland Limited (BOQ) has appointed Rod Finch as its next CEO and managing director, effective 1 March 2026, marking a planned leadership transition as the bank moves to advance the next stage of its multi‑year transformation strategy.
Finch, currently BOQ’s chief transformation and operations officer, will succeed Patrick Allaway, who will retire from his executive duties on 28 February 2026.
The appointment, announced on Wednesday (28 January), caps one of the bank’s most significant periods of structural reform since it embarked on an extensive digital overhaul and operational uplift three years ago.
BOQ chair Andrew Fraser described Finch’s promotion as a deliberate move to maintain leadership continuity through a crucial juncture in the group’s strategy to strengthen performance, simplify systems, and rebuild customer trust.
“As a key leader of BOQ, Rod’s appointment will ensure we maintain momentum in executing our strategy to become a simpler, specialist bank with improved performance for customers and shareholders,” Fraser said.
He said Finch’s direct involvement in the bank’s transformation initiatives, including its digital platform build, risk and operations uplift, and efficiency drive, made him uniquely positioned to lead BOQ into its next phase.
“Rod’s executive leadership of BOQ’s strategy and transformation priorities provides leadership continuity at a pivotal stage for BOQ Group,” Fraser said.
“During his tenure at BOQ, Rod has led the digital transformation and the program to uplift operational and risk performance.”
Finch, who has more than 20 years’ experience in banking and financial services across Australia and the UK, joined BOQ in 2023 and played a central role in reshaping the institution’s systems and processes.
Reflecting on his appointment, Finch said he was honoured to lead the organisation’s next chapter of transformation and added that he was committed to continuing the work started under his predecessor.
“I am honoured to be appointed CEO and grateful for the trust the Board has placed in me,” Finch said.
“I look forward to leading the organisation, building on the strategic transformation initiated by Patrick to improve outcomes for our customers, shareholders and the communities we serve.”
Board pays tribute to Allaway’s leadership
The board’s announcement also recognised outgoing CEO Allaway’s contribution during what Fraser called a “challenging and strategically important period” for BOQ.
“Patrick leaves BOQ with strengthened operational and financial resilience, accelerated growth in our business bank and the build of the digital retail bank largely complete and delivering a materially improved customer experience,” Fraser said.
“He has built a strong executive team that is delivering on our strategy with improved engagement and culture scores. We are grateful for Patrick’s service and his dedication to BOQ, and we wish him well in his retirement.”
Allaway, who first joined BOQ as chair in 2019 and stepped into the CEO role in 2023 to steer the bank through a period of regulatory challenge, said he was proud to leave the organisation in a stronger position.
“It has been an honour to lead BOQ as the Chair of the Board and subsequently its CEO, at the Board’s request,” he said.
“While returning to an executive role was not in my plans, I have worked to stabilise and strengthen BOQ by progressing work to respond to two enforceable undertakings and address the impact of market structural shifts.”
He said the handover to Finch reflected a deliberate succession process and that the bank was well-placed to move forward under his leadership.
“I am comfortable that I am leaving BOQ in a stronger position and the time is right to hand over to Rod’s very capable leadership,” Allaway said.
“Rod has a clear vision for BOQ and will retain momentum in building on the foundational work over the past few years to return BOQ to sustainable growth. I wish Rod every success and am confident in the next chapter for BOQ under his strong leadership.”
[Related: BOQ's home lending shrinks amid intense competition]
