BNK has reshaped its top ranks, appointing a finance veteran as its new CEO after long‑serving CEO Allan Savins announced he would be stepping aside.
BNK Banking Corporation confirmed on Thursday (2 April) that CEO Allan Savins would be stepping down, with chief financial officer Steve Kinsella appointed interim CEO.
Savins joined BNK in 2018 as general manager of banking and wholesale and executive director of Better Choice Home Loans and was then made CEO in November 2021.
The ASX‑listed lender said his contractual entitlements would continue to be paid through his notice period, which ends on 2 July 2026, signalling an orderly exit.
In the ASX statement, Savins said it had been a pleasure to steer BNK through its “transformation” phase and added that he was proud of the turnaround.
“It has been a privilege to lead BNK through a period of transformation. I am proud of what the team has achieved and am confident the business is well placed for continued success,” he said.
Chairman Jon Denovan reinforced that message, using his remarks to underline Savins’ influence on strategy and growth over his tenure.
“On behalf of the board, I want to thank Mr Savins for his significant contribution to BNK since joining the company in 2018. Allan has played a critical role during his time with BNK, advancing the company’s strategic priorities and driving its growth agenda,” Denovan said.
“He leaves BNK in a strong position.”
The outgoing CEO’s time at the helm has coincided with BNK sharpening its focus on broker‑distributed products under its BNK, Goldfields Money, and Better Choice Home Loans brands.
Veteran finance chief moves into interim role
From 2 April, Kinsella will move from CFO to interim CEO, subject to regulatory approval.
Kinsella joined BNK as chief operating officer in November 2023 before becoming CFO and was credited by the company for playing a “significant role” in the bank’s recent profitability improvement and balance‑sheet repair.
He brings more than 30 years of banking experience across Commonwealth Bank, Bankwest, and ABN Amro in Australia and offshore, including seven years as CFO for CBA’s institutional banking and markets division and six years as CFO for its business and private banking arm.
Before CBA, he held senior finance roles at ABN Amro across Australia, the Asia‑Pacific region, and London and earlier spent a decade at Bankers Trust Australia.
He holds a bachelor of commerce, is a certified practising accountant, and a graduate of the Australian Institute of Company Directors.
To maintain continuity in the finance function, BNK said it had appointed financial controller Judith Newman as interim CFO, also subject to regulatory approvals.
Newman has served as financial controller since 2021 and previously acted as interim CFO in 2023, giving her extensive oversight of BNK’s reporting and capital settings.
[Related: BNK trims book amid push into higher margin lending]
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