Suncorp exec to take the wheel at RACQ

Suncorp exec to take the wheel at RACQ

Suncorp's (ASX: SUN) CEO of banking and wealth David Carter (pictured) has stepped down to take on a new role.

Carter will leave the Brisbane-based company in early 2020 to take on the role of CEO at Queensland motoring body RACQ.

Suncorp CEO Steve Johnston, who was appointed to lead the company in early September, says Carter led the division through some choppy waters.

"David has been a great contributor to the leadership team, and on behalf of everyone at Suncorp, we wish him well in his new role," says Johnston.

"We are now well placed to continue to build on this success and leverage the investments we made."

Carter spearheaded the implementation of Apple and Google Pay at the bank, was pivotal in the rollout of a new payments platform and helped build the foundations of Suncorp's digital banking strategy.

"It has been an honour to work at Suncorp and be a part of the Banking & Wealth team's journey over the past five years, especially during a period of unprecedented change," says Carter.

Carter's appointment at RACQ follows the retirement of current group CEO Ian Gillespie after 13 years in the role. 

The motoring organisation says Carter's appointment comes at a vital time for the group.

"It is an exciting time for Mr Carter to take on this role leading Queensland's largest club when the organisation has never been stronger and where it now has almost 1.8 million Queensland members in more than 70 percent of the State's homes," says non-executive director Bronwyn Morris.

"RACQ is more than just a motoring club, more than an insurer, more than a bank and more than an advocate on behalf of its members. It is the combination of all these important facets and that made finding the right person to lead it in the years ahead extremely important."

"The RACQ Board was delighted with the quality of the candidates and believes Mr Carter's experience across both banking and insurance, as well as his strong connection to our home state of Queensland, makes him the ideal fit."

Suncorp says a recruitment process has already begun to find Carter's successor.

Elsewhere in Suncorp group general counsel Belinda Speirs has been appointed to the senior leadership team reporting directly to the group CEO.

Speirs will assume responsibility for company secretariat, bringing together legal, corporate and board governance under one team.

Shares in Suncorp are down 0.30 per cent to $13.44 per share at 10.19am AEDT.

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