Bank announces change in leadership

Group will "shortly commence" the search for new managing director and CEO

Bank announces change in leadership


By Madison Utley

The managing director and CEO of a financial services group with a flourishing loan book has announced his resignation upon the completion of his contract.

Melos Sulicich will be leaving Tasmania-based MyState Limited in July 2020.  

According to chairman Miles Hampton, Sulicich has had a significant impact on the business since joining the company in 2014 from his former role as GM of mortgage distribution at Westpac.

“Melos has overseen a period of substantial growth, with the banking loan book doubling to in excess of $5 billion,” said Hampton.

Over the 2019 financial year alone, MyState Bank recorded lending growth of close to $500m –up 10.7% from the year before.

“At the same time, Melos has led the digital transformation of the business with MyState now rapidly growing its customer base and loan book across mainland Australia,” the chairman added.

“But, perhaps most significantly, Sulicich has successfully led us through a very challenging period for the banking industry in Australia. Customer satisfaction measures clearly indicate that we have a culture where the interests of our customers are paramount.”

Sulicich’s resignation was due to his decision to permanently relocate home to Sydney, after almost six years living away from his family. He described his time leading the group as “a privilege” and expressed his appreciation to the entire staff at MyState.  

“We have a high calibre team and board that is well positioned to build on the momentum of the strategic program of work and the achievements made to date,” he said.

“We are a significantly different business now, and have created a banking and wealth management business that is well set for the future. I believe the time is now right to let someone else take the business into its next phase of growth and development.”

The company plans to commence the process to appoint a new MD and CEO shortly.

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