Heartland has announced Andrew Dixson, currently chief financial officer, will lead the banking group from 1 October.
Dixson succeeds Jeff Greenslade as chief executive of the dual ASX- and NZX-listed banking group, with the outgoing CEO earlier this year confirming his intention to vacate the role before the end of 2024.
Dixson will be tasked with overseeing group strategy, investor relations, corporate finance, capital allocation, and strategic and risk management oversight of each bank.
Heartland said it will not replace its group CFO role following Dixson promotion.
As well, Heartland, as part of a strategic realignment focused on its respective banking operations and investor priorities, will move to disestablish the deputy group CEO held by Chris Flood.
Flood concludes his more than 25-year career with Heartland at the end of October.
Newly appointed Group CEO Dixson joined Heartland Group as CFO in 2010, previously serving as business planning and reporting manager at insurance giant IAG. Beginning his career at PwC, Dixson’s 20-year career in financial services spans roles in his native New Zealand and abroad, including stints at ABN AMRO, Credit Suisse in the UK, and IAG.
Heartland recognised Dixson’s decisive role in the business over the last 14 years, including its initial merger in 2011 (a marriage of three mutual banking and financing organisations serving regional NZ), its New Zealand bank registration in 2012, and the bank’s listing on the NZX and ASX.
“Andrew has also played a critical role in the execution of several major strategic acquisitions, including the acquisition of the Reverse Mortgage businesses in 2014, StockCo Australia in 2022 and Challenger Bank Limited (Challenger Bank) in 2024,” Heartland said in a statement.
Heartland welcomed Dixson’s rise as the business moves into the “next stage of its journey”, with a focus on capital allocation and an improved return on equity, it said.
“Andrew has proven his leadership in shaping Heartland’s funding strategy in both countries, and through his involvement in complex structured finance transactions and a number of successful material capital raises.
“This reflects a significant evolution of Heartland’s role as the parent company of two banks.”
Heartland also paid tribute to the outgoing deputy CEO Flood, who joined its predecessor business back in 1997. The bank acknowledged Flood’s role in the integration and growth of its Reverse Mortgage businesses in New Zealand and Australia, the development of Heartland Bank’s Livestock and Asset Finance divisions, and the development of the Australian Livestock Finance business following the StockCo Australia acquisition.
As well, Flood played a key role leading the integration planning of the Australian business, with the acquisition of Challenger’s banking arm earlier this year, and a brief stint as acting CEO of Heartland Bank Australia.
