The COBA has announced the appointment of its next chief executive.
The Customer Owned Banking Association (COBA), which represents Australia’s customer-owned banks, has appointed former financial services association chief Yasser El-Ansary as its next chief executive.
Announced on Wednesday (7 October), the appointment will take effect on 2 November, following Michael Lawrence’s retirement later this month after almost nine years leading the association.
The association said El-Ansary brings more than 30 years of experience in strategy and leadership, including a decade in financial services executive positions.
His previous leadership roles included CEO and managing director of the Financial Services Institute of Australasia (FINSIA) and chief executive of the Australian Investment Council, which represents private capital, including profit-for-member superannuation funds.
The COBA board selected him following an extensive recruitment process.
COBA chair Elizabeth Crouch AM said his background in member organisations and financial services equipped him to champion the sector’s banking model.
“With extensive experience leading member organisations and a deep understanding of the financial services sector, Yasser is well placed to advocate for a purpose-led banking model,” Crouch said.
“He brings a strong commitment to enhancing the profile and regulatory framework for customer-owned banks, a sector serving over 5.4 million Australians.”
Regulation and competition
The incoming chief executive framed his appointment as an opportunity to represent institutions with a focus on their customers and communities.
“I am honoured to take on the leadership of COBA and advocate for a sector that consistently puts customers and communities first,” El-Ansary said.
El-Ansary identified regulatory improvements and the sector’s competitive position as priorities, alongside working with members to progress COBA’s strategy.
“A key priority will be enhancing the regulatory environment and ensuring customer-owned banks are empowered to thrive as a competitive alternative in the market. I look forward to working closely with members and the COBA team to advance our strategy and seize new opportunities for the sector,” he said.
COBA has previously argued that disproportionate compliance burdens can undermine smaller banks’ competitiveness.
Lawrence’s departure
Lawrence has headed COBA since December 2017, overseeing its advocacy through substantial banking regulatory change, including the banking royal commission.
Reflecting on his tenure, Lawrence praised the sector’s resilience and widening reach, while expressing confidence in El-Ansary’s ability to lead its next phase.
“Serving as CEO of COBA for the past nine years has been a privilege. Our sector has shown incredible resilience in expanding the reach of customer-owned banking, and I am deeply proud of what we have achieved. As I step down, I am confident that Yasser has the vision to help our sector thrive in its next chapter,” Lawrence said.
COBA represents 47 customer-owned banks, including mutual banks and credit unions.
Together, the sector’s institutions serve more than 5.4 million Australians and hold assets exceeding $200 billion.
[Related: COBA CEO Michael Lawrence to retire after 9 years]
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