Suncorp Bank CEO to retire

Suncorp Group’s banking and wealth division chief executive officer is retiring after six years with the company.

John Nesbitt will leave Suncorp in the second half of 2016, having joined the firm in 2010 as group chief financial officer.

In his six years at Suncorp, Mr Nesbitt oversaw the implementation of several strategic projects, including the non-operating holding company structure, tier one and tier two capital raisings, and the group’s Ignite banking system.

Suncorp Group CEO and managing director Michael Cameron said Mr Nesbitt also played a leading role in the submissions by Suncorp Bank and the regional banks to the Financial System Inquiry, “successfully establishing the need for an even playing field for all banks”.

“Under his leadership, the bank was also awarded Money magazine’s 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,” Mr Cameron said.

“I’m sure John will continue to make a valuable contribution as he embarks on the next chapter of his future, pursuing board directorships. On behalf of Suncorp, I’d like to thank John for his contribution and wish him all the best for the future.”

An internal and external search for Mr Nesbitt’s replacement is under way.

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