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Bank of Sydney appoints new head of retail banking

The non-major bank has welcomed an industry veteran as its new chief retail banking officer.

Bank of Sydney has today (16 October) welcomed Huw Bough as its new chief retail banking officer.

Mr Bough, who retired from his banking career in June 2023, has returned to the workforce as the new chief retail banking officer (CRBO) of the Sydney-based lender.

Fawaz Sankari, who was Bank of Sydney’s chief banking officer, will head up the commercial business as chief business banking officer.

Mr Bough has more than 25 years of industry experience, having most recently been general manager of banking at MyState Bank and its GM of sales and distribution (driving strategy for both direct and broker channels across the group’s retail banking brands The Rock, MyState Financial and MyState Wealth Management) before that.

Prior to joining the Tasmania-based lender, Mr Bough had a decade-long career at the Westpac Group, having served in leadership positions including as Westpac’s general manager, mortgage broker distribution (2008–11) and general manager, franchisee business for RAMS Financial Group (2011–14). He was also the head of broker sales at RAMS Home Loans between 2005 and 2008.

However, Mr Bough first entered the mortgage industry in 1998, when he started his own mortgage brokerage based in Melbourne, Australian Home Finance Solutions, which went on to become Citi Bank’s largest mortgage introducer in Victoria.

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The Bank of Sydney noted Mr Bough’s experience as a group executive “with a strength in customer service, distribution and sales” and his ”strong values”, “highly developed relationships” and ability to build “commitment and loyalty with people and partners to deliver strong results”.

Welcoming the new appointment to the bank on Monday, Bank of Sydney’s chief executive Melos Sulicich flagged the new CRBO’s deep expertise in the banking and financial services sector with specialist knowledge in franchising, retail and intermediary channels, stating: “I am excited to welcome Huw to the Bank of Sydney.

“Huw is an extraordinary leader with deep industry knowledge. Huw will be a tremendous advocate for Bank of Sydney and our partners and customers, and I know that he will deliver exceptional outcomes for our customers and our business.”

Mr Bough commented: “I am truly excited about the incredible prospects and opportunities in working with the Bank of Sydney team.

“I look forward to creating great customer experiences for our customers, people and partners.”

[Related: Mortgage industry veteran Huw Bough to retire]

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