the adviser logo

BoQ merger rumours gather pace

by Staff Reporter7 minute read
The Adviser

Making headlines today, The Australian Financial Review has reported that the impending departure of Bank of Queensland chief executive David Liddy could open the door to a mega merger between three of the nation’s regional banks.

Last week, Mr Liddy said he would step aside from his role as chief executive of BoQ.

During his 10 year stint as chief executive, Mr Liddy supported the idea of BoQ merging with Suncorp.

However, arguments over who would run the merged entity stopped an agreement from being reached.

Now, with Mr Liddy stepping aside, analysts believe consolidation could be back on the table.

BBY analyst Brett Le Mesurier told the paper that BoQ and Suncorp were an obvious fit for a merger, however, Bendigo could not be overlooked.

Mr Mesurier said the three banks could become a true alternative to the majors if they were to merge.

Read the latest issue of The Adviser magazine!
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Read more