New CEO appointed at Suncorp Bank

Suncorp Group Bank Limited has announced the appointment of Bruce Rush to the role of Suncorp Bank CEO, effective from 4 December 2023 and is subject to regulatory approvals, according to the bank.

This move followed Suncorp’s announcement of the departure of its current CEO Clive van Horen, who is set to leave the bank in December 2023.

Mr Rush has held various positions since joining Suncorp Bank in 2010, including a number of senior leadership roles such as acting CEO; executive general manager, deposits and payments and executive general manager, home lending.

In its ASX statement from 2 November 2023, the non-major bank stated that Mr Rush has played “an integral role in delivering improved performance in the Bank, particularly in the home lending portfolio through a dedicated focus on enhancing customer and broker experiences”.

Suncorp Group CEO Steve Johnston said Mr Rush was an “experienced finance services executive, with a deep understanding of the banking industry” obtained from more than two decades working across a range of roles in the industry both internationally and domestically.

“Bruce has been a valuable member of Suncorp’s leadership team for many years and has made a significant contribution to the improved performance of the bank across both its lending and deposit portfolios, amid what have been incredibly competitive market conditions in recent years,” Mr Johnston said.

“With a proven track record in delivering enhanced customer and financial outcomes and leading through periods of considerable change and complexity, Bruce’s appointment reflects the strength of talent we have within Suncorp Group.”

Mr Johnston added that Mr Rush will provide “continuity and stability in leadership in the current environment, particularly as the process remains underway to sell Suncorp Bank to ANZ”.

Commenting on his appointment, Mr Rush stated that he was honoured to be appointed as the next Suncorp Bank CEO and looks to work with his leadership team to “continue to deliver value for the bank’s customers and brokers”.

“I am proud of the progress we have made over the past three years to deliver on our strategic plan and strengthen the Suncorp Bank business,” Mr Rush said.

“I also believe the opportunity to further strengthen our business through the proposed sale to ANZ is in the best interests of our customers, people and the broader community.”

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