SUNCORP BANKING & WEALTH CEO SET TO DEPART

SUNCORP BANKING & WEALTH CEO SET TO DEPART

SUNCORP Group's (ASX:SUN) head of Banking & Wealth John Nesbitt will retire by the end of the year.

Nesbitt (pictured) joined the financial institution in 2010 as chief financial officer, and has contributed to several strategic projects, including the non-operating holding company structure, tier 1 and 2 capital raisings and Ignite banking system.

Prior to joining Suncorp, he held senior finance positions at Perpetual and Lend Lease.

Suncorp CEO and managing director Michael Cameron says Nesbitt has made an invaluable contribution during his six-year stint at the company.

"At an industry level, John took a leading role in the Suncorp Bank and Joint Regional Banks Submission to the Finance Sector Inquiry led by David Murray, successfully establishing the need for an even-playing field for all banks," Cameron says.

"Under his leadership, the bank was also awarded Money magazine's Bank of the Year in 2015 - the first non-major bank to receive the highly-recognised consumer and industry title since the award's inception in 2004.

"I'm sure John will continue to make a valuable contribution as he embarks on the next chapter of his future, pursuing board directorships.

"On behalf of Suncorp, I'd like to thank John for his contribution and wish him all the best for the future."

Nesbitt will depart during the second half of 2016, while an internal and external search is conducted to find a replacement.

 

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