BOQ appoints new director

Bank of Queensland (BOQ) has appointed a former general manager of CBA and HSBC Bank Australia as its new non-executive director.

Karen Penrose joins BOQ with over 30 years’ experience in the finance and corporate sectors, including 20 years in banking with CBA and HSBC.

Ms Penrose is also a non-executive director of a number of other organisations including town planning company UrbanGrowth NSW, retail asset management group Vicinity Centres, and oil and gas exploration company AWE Limited.

BOQ chairman Roger Davis said Ms Penrose brings specialist knowledge in finance and capital markets, risk management and compliance to the bank’s board.

“Given how quickly the market is changing, it’s important that we continue to evolve as a board to ensure we have the appropriate mix of skills and experience to manage the significant responsibilities of an APRA-supervised financial institution,” he said.

“Karen is a highly experienced non-executive director and her extensive banking, finance and accounting skills will underpin her contribution to the board and its committees. We are delighted to welcome her to the BOQ board.”

Ms Penrose’s appointment is effective immediately.

[Related: Investor rate changes driven by margin, says BOQ chief]

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