Bank of Queensland has filled its vacant CEO role, a week after revealing a new chair.
The Brisbane-based regional lender said on Thursday that former Westpac executive, appointed George Frazis, would be the new CEO. He was also a CEO of St George Bank under Westpac’s ownership.
He will replace Jon Sutton who stepped down last December because of ill-health
The bank said on Thursday Mr. Frazis was the right choice to lead the bank through a period of major upheaval as banks face a wave of digital disruption. Mr. Frazis, who will start in the job in September, ran Westpac’s flagship consumer banking arm until earlier this year when he left after a major restructure.
Mr. Frazis nominated “digital innovation” as his top priority for the bank when he becomes CEO.
“Disruption across the industry is moving at pace. The BoQ board and I recognise the need to respond decisively to address the challenging environment facing BoQ, and indeed all banks,” he said in a statement on Thursday morning.
The bank last week confirmed Patrick Allway would replace Roger Davis as chair later this year.
The shares rose nearly 1% to $9.44.
