The Australian Banker’s Association has announced that its chief executive Steven Münchenberg will be stepping down.
Andrew Thorburn, chairman for the ABA, said Münchenberg would remain in the role during the search for his replacement.
“Steven has led the ABA successfully for more than six and a half years, through some challenging times for the banking industry. He has now advised me that he would like to move on to the next opportunity in his career,” Thorburn said.
He thanked Münchenberg for his commitment to the banking industry and his leadership of the association.
“Steven helped the banking industry navigate through a rapidly changing political and regulatory environment in the wake of the global financial crisis and more recently as the industry has strived to better explain the role banks play for customers, the community and the Australian economy,” he said.
While Thorburn acknowledged that the banking industry still had more work to do to build up the trust and confidence of consumers, he said that efforts by Münchenberg had given the ABA some strong foundations from which to achieve this goal.
Münchenberg told Thorburn at the end of 2015 that seven years was the “right tenure” for the role. He thanked the support that he had received from the ABA’s chairman, deputy chairman, council and his team.
“One of the privileges in this role has been to work with many people in the banks, politics, the media, regulators, community and consumer organisations and small business bodies,” Münchenberg said.
“I have appreciated their willingness to work with us to produce good outcomes for Australian consumers and our community, and to safeguard our strong, resilient banking system which has helped to drive economic growth and jobs for Australian workers.”
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