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Bank CFO resigns

Bank of Queensland's chief financial officer has resigned from his post to "pursue other leadership opportunities", effective October 2019.

BOQ chief financial officer, Matt Baxby will resign from the company following the release of its full year financial results in October 2019, and following the commencement of the new managing director and CEO, George Frazis. 

Mr Baxby has worked at BOQ since 2012 and was a leading figure in the bank's acquisition of Virgin Money.

While his notice period officially ends on 31 December 2019, a search for Mr Baxby's replacement is already underway. 

Speaking of the change, BOQ chairman Roger Davis said: “Matt has made a significant contribution during his seven years with the group, including six years as group executive retail banking and the past 12 months as chief financial officer.

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“After almost 10 years at Virgin Group, Matt joined BOQ in 2012 and was instrumental in BOQ acquiring Virgin Money in 2013. Since the acquisition, Virgin Money has continued to grow and diversify its product offerings as a challenger brand.

"The board thanks Matt and wishes him all the best in the next chapter of his career,” Mr Davis concluded.

Meanwhile, Mr Baxby commented: “My time at BOQ has been incredibly rewarding and the highlights include overseeing the successful acquisition of Virgin Money, diversification by geography and channels of the retail bank, and more recently assuming the role of CFO to broaden my experience across the group."

The bank has seen several changes in its C-suite executives in the past few months.

Jon Sutton, BOQ's former CEO resigned last year following a heart operation, with interim CEO Anthony Rose taking over the leadership of the bank.

George Frazis – who was Westpac’s chief executive, consumer, before David Lindberg took over the role in April 2019 – will become the new managing director and CEO of BOQ from 5 September 2019.

[Related: BOQ announces new CEO and MD]

Bank CFO resigns
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