Powered by MOMENTUM MEDIA
subscribe to our newsletter

ME Bank chairman retires

Bernie Fraser has announced he will step down as ME Bank chairman after nearly 15 years.

Mr Fraser’s announcement follows a period of succession planning with the board, and is effective immediately.

He joined ME Bank in April 2000, when the organisation was only six years old and operating as a simple securitised mortgage provider.

A former governor of the Reserve Bank of Australia, Mr Fraser has provided a depth of banking knowledge and experience unrivalled in the Australian business community and, combined with a philosophy based on the principles of the industry fund movement, he has overseen the transformation of ME Bank into a rising force within the banking industry, and one much loved by its fast-growing base of customers.

During his tenure, Mr Fraser oversaw ME Bank’s acquisition of a full banking licence in 2001, a move that allowed ME Bank to expand its product portfolio, grow its customer base, and diversify funding sources.

Advertisement
Advertisement

As chairman, he shepherded the bank through the global financial crisis, including overseeing the bank’s transition from a securitisation-based funding model with a majority of assets held ‘off-balance sheet’ to the traditional banking model with loans originated on-balance sheet, in turn improving the bank’s stability and profitability.

“I will miss Bernie’s experience, guidance and deep knowledge of the banking landscape,” ME Bank chief executive Jamie McPhee said.

“I would like to pass on my deep appreciation of his unwavering support over the last five years,” Mr McPhee said.

Mr Fraser said it had been a privilege to serve ME Bank and the industry super funds for many years, but he is now looking forward to a bit more time for his other interests.

He will be replaced as chairman by current director Garry Weaven.

PROMOTED CONTENT


 

ME Bank chairman retires
mortgagebusiness

Latest News

The big four bank has admitted to cutting off services to around 40,000 customers in the last two and a half years. ...

The latest index by the non-bank has suggested that home loans are at their most unaffordable for the first time in five years.  ...

The government has established a taskforce to look into bank branch closures in regional communities. ...

Join Australia's most informed brokers

Do you know which lenders are providing brokers and their customers with the best service?

Use this monthly data to make informed decisions about which lenders to use. Simply contribute to the survey and we'll send you the results directly to your inbox - completely free!

Do you think APRA's bank buffer changes will see more borrowers use non-banks?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.