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MyState MD confirms departure after COVID delay

The chief executive and managing director of MyState Bank will be retiring from his role at the end of the year, after delaying his exit to steer the bank through the pandemic.

Melos Sulicich, chief executive of MyState will step down from 31 December. He initially resigned in January 2020, but agreed to stay until September 2021 to guide the company through COVID-19.

MyState will shortly commence its search for a replacement boss.

Chair Miles Hampton said the board had “greatly appreciated Mr Sulicich staying on to see the company through the COVID impacts on the business”.

He also credited the CEO with having an significant impact on the business during his seven-year tenure, saying Mr Sulicich will leave the company well positioned to deliver on its recently declared growth plans.

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“Melos has overseen a period of substantial growth for MyState, with the banking loan book doubling to in excess of $5.5 billion,” Mr Hampton said.

“At the same time he has led the digital, technology and operational transformation of the business with MyState now rapidly growing its customer base and loan book across mainland Australia.

“MyState is now a modern challenger bank and wealth business, with the people, technology and systems needed to compete and grow rapidly in fast changing markets.”

Mr Sulicich added that he had decided now is the right time for somebody else to take the company forward.

“I take the opportunity to express to the MyState team and board for their support. Together we have built a modern and scalable platform well positioned for significant growth, both at MyState Bank and TPT Wealth,” he said.

MyState closed a $55.5 million raise at the end of June, which it placed towards its growth strategy. Previously, it had signalled ambitions to “rapidly” grow its loan book and business through the broker channel.

There has been a shuffle within the bank in recent months. Huw Bough, former MyState general manager of retail banking, business banking and broker returned to the group after a two-year stint, to take the role of general manager, banking.

Former Hydro Tasmania CEO and director Stephen Davy commenced as a new board member from July.

Further, MyState recently hired a new senior manager, marketing and communications – partnerships, Neville Anitelea.

[Related: ANZ names incoming board member]

MyState MD confirms departure after COVID delay
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