Bank of Queensland CEO George Frazis shakes up executive team

Bank of Queensland’s chief George Frazis has outlined changes to shake up the bank’s executive team.

Mr. Frazis says chief product officer Chris Screen will replace business group executive Fiamma Morton in October. 

“Our mandate to build and support Australia’s small and family businesses has always been core to our strategy,” he writes in a memo to BoQ staff. 

“Chris acted as our GE retail banking on an interim basis earlier this year and has been critical in supporting the turnaround program in that division and across the group.”

“Having joined the business bank as the impacts of Covid-19 were becoming more evident in June 2020, Fiamma provided valuable leadership through a challenging period, and we are now well-positioned to ensure BOQ business can capitalise on improving economic conditions.”

Adam McAnalen will shift to the bank’s transformation and integration program while Insurance Australia Group’s David Watts will take over as head of risk early next year.

The first-half results showed the business banking unit experienced a 7 percent drop in net cash earnings, versus the same period a year ago, while the retail unit saw net cash earnings climb 27 percent.

In the memo, Mr. Frazis said BoQ’s financial year was off to a “positive start”, and the leadership changes underscored the bank’s momentum.

Source: Cairns Post