SUTTON TAKES CHARGE AT BOQ

BANK of Queensland (ASX:BOQ) has officially appointed Jon Sutton (pictured) as CEO and managing director, calling off its extensive international search.

The former chief operating officer has been acting in the role since the departure of Stuart Grimshaw in August 2014.

The board selected Sutton as the best man to lead the financial institution in the evolving banking sector and to capitalise on future growth opportunities.

Sutton says he was proud to be chosen and will focus on achieving the best outcomes for customers, staff and shareholders.

"BOQ has achieved much over the last two years, but we must continue to maintain the momentum we have built and continue to successfully deliver our strategy and customer-focused approach," Sutton says.

"This will create the foundations we need to underpin BOQ's next phase of growth, which will require us to take advantage of the opportunities and challenges presented by rapidly changing macroeconomic and financial services environments, as well as technological advancements."

Chairman Roger Davis says Sutton has been instrumental in the company's turnaround and is confident he will be able to maintain growth.

"He has overseen many of the bank's key projects including digitisation of its back office, and as acting CEO, has done an excellent job in steering BOQ's performance and communicating our results to investors over the last few months," Davis says.

Sutton joined BOQ in 2012 and has more than 20 years of experience in financial services, including a number of senior positions at Commonwealth Bank and Bankwest.