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Mutual bank appoints new CEO

A mutual bank has announced that it has appointed Greg McKenna as its new chief executive officer.

Police Bank, a mutual financial institution servicing the wider Police Community, has announced that it welcomed new chief executive officer Greg McKenna on 18 March.

According to the board, Mr McKenna has over 30 years of experience in banking and finance and has served Police Bank and the policing community in the past.

Mr McKenna was a non-executive director of the Police Bank board for six years between July 2012 and July 2018 and rejoined the bank as the chairman of the board in January 2019, where he was a key figure in refreshing the mutual bank’s strategy.

Earlier in his career, Mr McKenna held strategist roles at Westpac and NAB, as well as serving as treasurer for Newcastle Permanent Building Society.

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The board noted that Mr McKenna’s experience in behavioural economics and finance, broad experience in banking and interest in technological change will help to support the future of the bank.

Peter Remfrey, acting board chair, said: “The board warmly welcomes Greg’s appointment as CEO.”

According to Mr Remfrey, the recruitment process attracted 125 applicants; however, it was Mr McKenna’s “deep understanding of the bank and most importantly his commitment to the police community” along with his “deep knowledge of Australian banking” that made him the “ideal candidate”.

“The board looks forward to continuing to work closely with him,” Mr Remfrey said.

Commenting on his appointment, Mr McKenna said: “Having grown up with family in the police force and having many friends who are serving police, it’s a privilege to be appointed the CEO of Police Bank, which has supported the force since 1964.  

“I have developed a strong personal bond with our community of members, and I look forward to building many more relationships with those men and women who are keeping our community functioning and safe”.

Mr McKenna continued: “It’s obviously a challenging time to become CEO of a community-based mutual bank. 

“But what better time to take the reins than when we have an opportunity to use banking technology and financial expertise to genuinely support our members and embrace the strength of our community by giving them the practical financial support, empowerment and service they deserve”.

Acting chair Peter Remfrey thanked Police Bank chief member officer Andrew Rasby for his leadership of the bank over the past four months while the board underwent the recruitment process.

[Related: Baird to exit NAB, interim replacement announced]

Mutual bank appoints new CEO
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