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Ms Herman brings more than 25 years’ experience as a financial services executive in Australia and the US, having held senior roles with large financial institutions including Westpac and Macquarie.
She also has experience as a non-executive director in the retail, financial services and property sectors.
“Sally has extensive financial services experience and will bring fresh insight and perspective into the challenges and opportunities presented to Suncorp now and into the future,” Suncorp Group chairman Ziggy Switkowski.
Mr Switkowski announced earlier this year that Patrick Snowball would step down as group CEO this month and return to the UK, and commended him for his exceptional leadership and acknowledged Suncorp’s progress during his tenure.
“Patrick Snowball has steered the Suncorp Group through a major transformation which has simplified operations, realised efficiency benefits and strengthened the capital base,” he said.
“Today, we are a vastly improved diverse financial services business with good prospects and are providing attractive and sustainable returns to our shareholders.”