Movers & Shakers, Financial Services | August – September 2022

CBA's newly appointed Group Chief Information Officer, Gavin Munroe
CBA appoints new Group CIO; BoQ poaches new CIO from NSW Government; and P&N creates a dedicated Data and Open Banking head role.

Appointments

– The Commonwealth Bank of Australia (CBA) has appointed Gavin Munroe (pictured) as Group Chief Information Officer (CIO).

The move follows the bank’s announcement that current Group Executive Technology and Group CIO Pascal Boillat will depart from the company in mid-November.

Munroe, a 20-year veteran of financial services technology, was hailed by CBA for his role in “driving large-scale technology, digital and agile transformation”.

He currently serves as HSBC’s Global Chief Information Officer, responsible for technology across the financial services giant’s wealth, private banking, insurance, retail and digital businesses.

Prior to this, he served at the Bank of America Merrill Lynch, heading technology for the US bank’s wealth management, consumer products, mortgage and operations divisions.

“Gavin [Munroe] is a seasoned financial services technology leader with deep experience driving digital transformations,” CBA Chief Executive Matt Comyn said.

“Gavin has a proven track record of delivering technology solutions at a global scale, managing and building strong teams, and leading large programs aligned to business strategies and goals. I look forward to working alongside Gavin to continue delivering global best digital experiences for our customers.”

According to CBA, former Group CIO Pascal Boillat has opted to “return to the Northern Hemisphere to be closer to his family”.

Joining the Aussie big four in 2018, Comyn praised Boillat’s “significant contribution to CBA over the past four years”.

“He has been consistently focused on ensuring our technology is resilient, safe, sound and secure. He has overseen major IT upgrades, introduced modern applications, simplified and decommissioned old technology, and accelerated the shift to the public cloud.

“He has also led the digitisation and IT investments that will further deliver on CBA’s strategy to build tomorrow’s bank today for our customers.”

 

– Macquarie Group has appointed Tim O’Hare to serve as Director of Engineering for its banking and financial services (BFS) division.

O’Hare revealed the move on his LinkedIn page, announcing he has “joined the digital experience team at BFS, Macquarie’s retail banking and financial services businesses”.

“[I’m] excited to dive in and build a world-class digital bank.”

O’Hare previously served as a Software Development Manager at Amazon Web Services (AWS) for more than seven years.

 

– The Bank of Queensland (BoQ) has appointed Tracy Wilson as Chief Information Officer for Core Technology and Group Services.

Wilson has made the jump from the NSW public sector, most recently serving more than three years as the state Treasury’s CIO.

In her new role, Wilson will report to Group CIO Craig Ryman.

She previously served as CIO for DibbsBarker, a law firm.

 

– Banking industry peak body Australian Banking Association (ABA) has appointed Nick Giurietto to the newly created role of Head of Future Policy.

The role will support the ABA’s increased focus on the banking sector’s digital economy transition.

Announcing the new role on his LinkedIn Giurietto said the role will “[help] to shape responses to both the challenges and opportunities in areas such as payments, digital identity, blockchain and crypto, AML/CTF and privacy”.

He added: “The right outcomes at the intersection of technology, economics and regulation can unlock productivity gains across the economy and improve lives across society.”

Giurietto reports to ABA chief of policy and strategy Christine Cupitt.

Prior to joining the ABA, Giurietto was the Head of Growth and Strategic Partnerships for connectID, a to-be-launched national identity infrastructure.

He also served concurrently as a Member of the Blockchain Expert Policy Advisory Board and a Member of the Australian Government Fintech Advisory Group between November 2019 to June 2020.

He has also been a member at Standards Australia for about three years and was the Chief Executive and Managing Director at Blockchain Australia between 2016 to 2020.

 

– P&N Group has appointed Chris Malcolm as its new General Manager of Data and Open Banking.

Among his 12 years served at Great Southern Bank (formerly Credit Union of Australia), Malcolm was most recently Head of Open Banking.

As GM for Data and Open Banking, Malcolm’s team will head the delivery of P&N’s wider data strategy, including “spearheading” the development of the bank’s centre of excellence for data initiatives and data engineering.

“He is also charged with delivering and rolling out [P&N’s] Open Banking offerings that will soon provide greater financial empowerment for our customers as a first step of our Open Banking journey,” P&N Group Chief Transformation and Technology Officer (CTTO) Warren Willis said in a statement.

“With a background in data, analytics and Open Banking, Chris brings a significant depth of experience to this new role having led these functions at Great Southern Bank (GSB), Australia’s largest mutual bank, as well as holding previous roles at GSB in Customer Insights, Sales & Corporate Development,” Willis added.

“I believe Chris’s strength lies in understanding new and complex domains, defining opportunities and galvanising teams to solve problems through a performance and cultural alignment lens.”

 

– The Australian Securities Exchange (ASX) has appointed Andrew Tobin as its next Chief Financial Officer (CFO).

Tobin was previously CFO at Challenger Limited for nine years, between 2012-2021, responsible for numerous operational areas including finance, investor relations, treasury, operations and information technology. Prior to this, he served as Deputy CFO and previously worked at fellow FSIs CBA, MLC and KPMG.

Tobin replaces Gillian Larkins who announced she would step down from the ASX at the end of August 2022 after four years with the company.

Tobin commenced in his new role on 5 September 2022.

 

– MLC Insurance has promoted Lesley Mamelok to the role of Chief Finance Officer, effective 28 October 2022.

Lesley joined MLC Limited in April last year and is currently serving as Deputy CFO and General Manager Finance.

“Lesley has a strong background and experience in the commercial and financial management of life insurance,” MLC Chief Executive Rodney Cook said in a statement, acknowledging her former roles as Acting Chief Executive Officer of Integrity Life from March 2020 as well as CFO of Integrity, and previously CFO of AMP Bank.

“I am delighted that Lesley will join the leadership team as CFO. She has extensive finance and life insurance experience, as both a CFO and CEO, as well as bring her commercial leadership to the Insurance Leadership Team,” Cook said.

Departures

– Industry superannuation provider CareSuper has announced that long-standing Chief Executive Julie Lander will step down after more than two decades with the Fund.

Lander will remain in the role while the Fund undertakes a search for a new CEO, which is expected to be finalised by the end of 2022.

Lander joined CareSuper as a General Manager in 2001 when the Trustee Office at the time was comprised of some 20 people with $1 billion in funds under management.

Promoted to CEO in 2002, CareSuper acknowledged Lander’s role in growing the fund “to a substantial entity of almost 200 staff and $20 billion in FUM with approximately 220,000 members which includes members acquired from a 2012 merger with Asset Super”.

CareSuper Chair, Linda Scott, paid tribute to Julie’s leadership and contributions to the Fund.

“Julie has played a significant role in Australia’s superannuation industry, serving our members and the broader superannuation movement with distinction over many years,” she said.

“The Board is excited to begin the process of recruitment for the next leader of our award-winning fund. We are committed to ensuring our strong culture is retained as we grow to be the leading challenger fund to Australia’s mega funds, and continue to outperform for our members for the future.”

CareSuper has announced it is currently recruiting for its next CEO.

Board

– CBA has appointed Lyn Cobley as an Independent Non-Executive Director.

A 30-year veteran of the financial services industry, Cobley is a former Chief Executive of Westpac’s Institutional business, Chair of Westpac’s Asia Advisory Board, and was previously Group Treasurer of CBA.

Cobley assumes her new role on 1 October 2022.

CBA has also announced that Shirish Apte, who joined the CBA Board in June 2014, will not seek re-election. Apte was also on CBA’s Board Audit Committee and Board Risk & Compliance Committee, and is a former Chair of the Board Risk & Compliance Committee.

 

– Australian and New Zealand Institute of Insurance and Finance (ANZIIF) has appointed Hilary Bates as Chair of Chairs on its board.

Bates currently serves as Zurich Financial Services Australia Chief Operating Officer.

Hilary Bates said: “I am honoured to be elected Chair of Chairs on the ANZIIF Board. One thing that stands out to me about ANZIIF is the passion they have for those who have a career in insurance, and their engagement on emerging trends to ensure they are always evolving and relevant.

Commenting on Bates’ appointment, Prue Willsford, ANZIIF Chief Executive said: “On behalf of the Board and the team at ANZIIF, we are delighted to welcome Hilary to the Board. Hilary is a longstanding advocate of ANZIIF, and her extensive industry knowledge and experience will be invaluable to the board.”

 

– Bendigo and Adelaide Bank has appointed Alistair Muir as a Non-Executive Director, effective 12 September 2022.

Muir is recognised as an “experienced digital executive and entrepreneur with almost 20 years’ experience working at the forefront of finance and technology”.

He currently serves as Managing Director of advisory business Vanteum and has advised a number of banks, insurers and fintech businesses on Open Banking and the Consumer Data Right (CDR) as well as the governments of three countries on fintech and digital innovation.

“Alistair will provide the Bank with valuable perspectives on digital strategy, transformation and innovation. He will also be amongst the youngest serving Non-Executive Directors of any Australian listed bank.”

Muir was recognised for successfully launching new digital products and ventures across a number of ASX50 and Fortune 500 companies.

“This includes launching what is now Apple Music in Australia through to supporting the creation of more than 30 new companies from emerging technology in conjunction with the CSIRO and other publicly funded research institutes.”

Muir is also a Non-Executive Director of lenders’ mortgage insurance business Genworth Mortgage Insurance Australia and was previously a Non-Executive Director of diversified financial services business Humm Group.

 

– Hume Bank has appointed Tina Wyer to its Board of Directors, effective from 23 August 2022.

Wyer was recognised for her “global experience driving and implementing change and transformation across the business, technology and data domains, in the financial service sector”.

“With a connection to regions and sustainability, she also brings a wealth of experience in Board and business roles, most recently as founder and Board advisor to a number of fintechs in an eclectic range of business and personal development organisations that focus on the next generation of leaders as well as the sustainability of our planet.”

Hume Bank Chair, Michael Gobel said: “We are delighted to have Tina join the Board to augment the Board’s existing expertise in the area of digital, technology and data management as well as the broader development of our People and Talent”.

 

– IMB Bank has announced Catherine Aston will be appointed Chair of the Risk Committee.

She replaces current Chair Noel Cornish, who steps down after twelve years as a Director at IMB.

Chief Executive Robert Ryan offered his “deepest appreciation to [Cornish] for his outstanding contribution to the ongoing achievements of IMB”.

“In his period as Chairman, Noel has ably led the organisation through periods of significant success and challenge, including overseeing our growth through mergers, our response to increased regulatory scrutiny brought to the financial services industry as a whole, and of course, the disruption of the global pandemic.”

Ryan added: “Cathy is an outstanding choice to lead the Board, having highly valuable senior executive experience in business and financial management, technology and marketing as well as an extensive career as a Non-Executive director and Board Chair of regulated entities.

IMB said it is “well advanced” in its search for a replacement for its impending Board vacancy.

 

– Rest Super has appointed Michael Bargholz CFA as Director, effective from 1 October 2022.

“Bargholz, who has extensive executive leadership experience in investment management, is also appointed chair of the Rest Board Investment Committee, of which he has been a non-voting member since 1 September 2020,” Rest said in a statement.

Bargholz was Chief Executive, Australia of investment manager Pendal Group from 2016 to 2018.

His appointment to the Rest Board comes with the forthcoming retirement of Steven Priestley on 30 September 2022.

Rest recognised Priestley’s “very strong contribution to the Rest Board and Rest’s nearly two million members over the past 14 years”.

 

– The Financial Services Council (FSC) has appointed Renato Mota, Chief Executive Officer of Insignia Financial, and Alison Telfer, Country Head for Asset Management Australia and New Zealand of UBS Asset Management, as Directors to its Board.

Both appointees have more than two decades’ experience in financial services.

The FSC praised Mota for his “strength in blending deep strategic insights with hands-on experience in business leadership and execution”.

“He has been responsible for leading Insignia Financial’s transformation strategy, including the acquisition of MLC, and a focus on enabling financial wellbeing for Australians through service excellence and technology.”

Telfer was recognised for her various roles within the industry, spanning product development, strategy and client distribution to legal and government affairs.

“Ms Telfer brings these skills in leading UBS Asset Management to partner with clients and industry to create better financial outcomes and positive impact beyond returns.”

Prior to UBS Asset Management, Telfer was BlackRock Asset Management’s Chief Operating Officer for Australasia and was executive sponsor for BlackRock’s Philanthropic Committee and Women’s Initiative Australasia.