Non-major bank CEO to retire

by AB15 Jun 2016
The CEO of Suncorp Banking & Wealth, John Nesbitt, will retire in the second half of 2016, it has been announced.

Nesbitt, who joined Suncorp in 2010 as Group chief financial officer, will step down from the role and an internal and external search is underway to secure his replacement, Suncorp said in a statement.

Michael Cameron, Suncorp CEO and managing director, thanked Nesbitt for his time spent with the bank as the business was able to grow and develop under his leadership.

“At an industry level, John took a leading role in the Suncorp Bank and Joint Regional Banks Submission to the Finance Sector Inquiry led by David Murray, successfully establishing the need for an even-playing field for all banks,” Cameron said.

“Under his leadership, the Bank was also awarded Money magazines Bank of the Year in 2015 – the first non-major bank to receive the highly-recognised consumer and industry title since the award’s inception in 2004.”

Throughout his time with Suncorp, Nesbitt oversaw the implementation of several strategic projects including the Non-Operating Holding Company structure, Tier 1 and 2 Capital Raisings and the Ignite banking system.

“I’m sure John will continue to make a valuable contribution as he embarks on the next chapter of his future, pursuing board directorships,” Cameron continued.

“On behalf of Suncorp, I’d like to thank John for his contribution and wish him all the best for the future.”