Australia's fourth largest building society tags new CEO

by Mackenzie McCarty27 Nov 2012

Wide Bay Australia Ltd has appointed a new CEO, due to take over on February 4 next year.

Martin Barrett, according to Wide Bay chairman John Humphrey, is an experienced senior executive with an extensive background in the banking sector.

Barrett spent ten years as state manager (Queensland and Western Australia) at St George Bank. During this time, he was responsible for all aspects of the bank’s operations in Queensland and Western Australia.

Prior to working at St George Bank, Mr Barrett held senior roles at regional financial institutions in the UK and at National Australia Bank.

Humphrey welcomed Barrett’s appointment in a media statement on Monday.

“The board of Wide Bay is delighted that Mr Barrett has agreed to serve as CEO. Barrett brings exceptional experience and expertise to the Wide Bay team and we believe he is the right person to lead Wide Bay in its next stage of growth.”

Details of Barrett’s terms of appointment include a $500,000 per annum salary and fixed remuneration.

Humphrey congratulated and thanked the outgoing CEO, Ron Hancock, for his successful stewardship and contribution to Wide Bay over many years.

“I would like to acknowledge and pay tribute to Ron for his role in founding Wide Bay Australia and guiding it to the strong position it is in today. Ron has done a wonderful job in establishing and growing a very successful regional financial institution. We wish him the very best for the future.”