Jeff Smith, CEO Suncorp Business Services, has resigned from the bank to take up a senior global executive position with IBM in the US.
Smith will be replaced by Suncorp’s Chief Information Officer Matt Pancino. Smith will continue for a short time in a transition period, according to a spokesperson for the bank.
A Suncorp spokesperson said Smith was instrumental in building the culture he now leaves behind at Suncorp Group, including the roll-out of the legacy simplification project. Smith joined Suncorp on in 2007 as Group Executive Business Technology.
“Jeff has strong and inspirational leadership skills which have helped instil a proactive approach to teamwork and project management. The company has undertaken some significant transformational programs in the past few years… Jeff’s commitment to bringing disciplines together through lean and agile ways of working has been central to the success of these big programs of work,” said the spokesperson.
In a press release, Suncorp’s Group CEO Patrick Snowball praised Smith’s significant contribution to Suncorp, particularly his achievements in building Suncorp’s shared services function.
“Jeff’s strong and inspirational leadership qualities have ensured we have exceptional talent within Suncorp Business Services. This has allowed a smooth succession plan involving the promotion of Matt Pancino to the CEO role within our shared services function. Matt is a well-qualified executive with a proven track record. I’m delighted with his appointment,” he said.
In a prior interview with FST Media, Smith said he wished part of his legacy would be developing talent within Suncorp.
Smith could not immediately be reached for further comment.