Mutual lender nabs ex-major GM as new CEO

by Julia Corderoy02 Oct 2015
Heritage Bank has appointed ex-major bank GM Peter Lock to take over as the CEO of the mutual lender from the retiring John Minz. 

Heritage chairman Kerry Betros announced yesterday that Lock would take up the new role on Monday 23 November. 

Lock has more than 30 years’ experience in the financial services sector. He was previously the chief operating officer and head of corporate banking for the Bank of Melbourne, and managing director of St George Bank in Victoria. 

He has also held general management positions in both St George Bank and CBA, after starting his career with NAB

Most recently, Lock was the managing director of Parkside Partners, his own corporate advisory firm based in Melbourne. In this role, he worked with members of the customer-owned banking sector, as well as advising boards and business owners on strategic and financial matters. 

“The Board is very pleased to be able to appoint such an outstanding and experienced executive as Mr Lock, who we believe will fit the culture and values of Heritage,” Betros said. 

Lock says he is honoured to be taking up the role and helping the mutual lender overcome the industry-wide changes that are impacting the mutual banking sector.

“The banking industry is going through many challenges at present, in all the main areas of regulation, competition, customer focus and economic activity,” he said. 

“We need to have a strong focus on our balance sheet management, a strong focus on providing a great experience for our members, a keen eye on our product innovation and a passion to be different from the other banks.” 

Outgoing CEO John Minz earlier this year announced his intention to retire, after 22 years at Heritage, including 12 as CEO.  He will step down following the Heritage Board meeting on Thursday 19 November.