Movers & Shakers, Financial Services | January – February, 2023

Sharon Thompson FMA
The FMA's newly appointed ED, Transformation & Operational Delivery, Sharon Thompson

APRA appoints lead of new tech & data division; the ASX board boosts its tech cred; and NZ’s chief financial regulator unveils new transformation head.


– As part of a major executive rejigging of its now split Digital, Operations and Technology (DOT) division, the Commonwealth Bank (CBA) has moved former DOT head, Fredrik Lindström, to the new role of EGM of Retail Technology.

Lindström most recently served as CBA’s Chief Digital Officer (CDO), appointed to the role in 2020 after arriving from Denmark’s Danske Bank.

He now reports directly to new Group Executive of Technology and Group Chief Information Officer (CIO) Gavin Munroe, who commenced in the new role last November.

CBA has also reportedly appointed Ilona Oshana as Chief Digital Officer of retail banking services, joining the bank next month from Macquarie Group.

Oshana serves as Macquarie’s Chief Product Owner of Digital Experience, recognised for leading digital and innovation strategy for the group’s digital banking experience apps.

Meg Bonighton, a former Telstra executive, was last December appointed as CBA’s EGM of digital and customer.


– APRA has promoted Bruce Young to head up the regulator’s new Technology and Data division as Executive Director (ED).

Young will sit alongside five other APRA EDs, including for policy and advice, data insights, as well as industry-specific EDs of banking, superannuation, and insurance.

The new role brings together the regulator’s technology team, which currently sits under the enterprise services division, alongside its enterprise data capability, which until now was under the remit of the Executive Director of cross-industry insights and data.

As part of the new structure, APRA Chief Information Officer Doug Jenkins will now report to Young instead of to Chief Operating Officer of enterprise services Steve Matthews.

Young most recently served as APRA’s General Manager of Operational Resilience, sitting directly under Brandon Khoo.

Young also concurrently serves as Chair of the Council of Financial Regulators’ Cyber Security working group.

Alongside Young’s promotion, the watchdog has also appointed a new ED of Superannuation, with Carmen Beverley-Smith, formerly of Westpac, replacing Suzanne Smith in the role. Smith has since stepped up to become an APRA Member.

Clare Gibney, formerly APRA’s General Manager Resolution has been promoted to ED of Policy & Advice. She replaces Renée Roberts, who becomes ED Banking (replacing the interim banking head Paul Tattersall).

APRA has also appointed a new Chief of Staff, with Jane Magill, previously global lead – business operational risk of Macquarie’s commodities and global markets group, stepping into the role.


New Zealand

The Financial Markets Authority (FMA)/Te Mana Tātai Hokohoko has appointed Sharon Thompson as Executive Director – Transformation and Operational Delivery – part of the FMA’s newly formed enterprise leadership team.

Thompson will provide strategic direction to the FMA’s operations and capability functions, including technical operations, project management, data engineering, IT security and architecture, customer relationship management, knowledge management, business improvement, people and capability, finance, business support and transformation.

She joins the FMA from the NZ Government’s Inland Revenue – Te Tari Taake department, where she was Deputy Commissioner for the Customer and Compliance Services (Individuals) group.

“She led the IRD’s large, customer-facing teams through the organisation’s multi-year business transformation, including digital technology, business process, capability uplift, structural and culture change,” the FMA wrote in a statement.

Prior to joining the public sector, Thompson held senior roles at ASB Bank and Westpac.

FMA Chief Executive Samantha Barrass, welcomed Thompson as “an exceptional appointment for the FMA” with “strong experience leading enterprise-level organisations in both the public and private sector, through operational transformation”.

“Sharon’s focus on driving improved customer outcomes and employee engagement will ensure the FMA is well supported in its key enabling functions.”


– Kiwibank has appointed Julia Jack to the newly created role of Chief Purpose and Brand Officer.

Kiwibank Chief Executive Steve Jurkovich noted that the role brings together the bank’s Corporate Affairs, Brand and Marketing, and Customer Experience functions.

“This critical role will build trust and reputation with Kiwi by connecting customers to the Kiwibank brand and purpose, supported by great insights, communications, and customer intelligence,” Jurkovich said.

Jack currently serves as Chief Marketing Officer at NZ energy company Mercury, overseeing brand and marketing, data and analytics, customer experience and propositions.

She previously held senior roles in both New Zealand and the UK, including almost 13 years at Vodafone.

Jack will join the government-owned bank on 8 May pending RBNZ approvals.


The Australian Securities Exchange (ASX) has appointed Vicki Carter to its board in an effort to bolster its technology and cyber capabilities.

Carter, a former Telstra and NAB executive who has a rich history in technology and digital transformation leadership, was one of the key overseers of the telco’s multi-year T22 transformation strategy.

The ASX has also announced Luke Randell, a former Citi executive, will join the organisation on 3 April as a Non-Executive Director.

ASX Chair Damian Roche said: “One of my priorities in pursuing a program of Board renewal has been to strengthen the Board’s technology and cyber capabilities, and experience in managing the complex needs of large-scale transformation programs.

“These skills are critical to understanding how these transformations will complement the technology changes at ASX and impact our customers and their business needs.”

“I am confident that Vicki and Luke have the relevant skills with transformation and can bring insights drawn from contemporary customer relationships to make valuable contributions to the Board.”

Prior to joining Telstra, Carter served 12 years at NAB, including as Executive General Manager (EGM) Retail Banking and EGM Business Operations.

She currently serves as Non-Executive Director of Bendigo and Adelaide Bank Limited and IPH Limited and is Chair of Sandhurst Trustees Limited.

The ASX recognised Carter as “an accomplished leader experienced in leveraging technology and achieving organisational transformation by improving customer outcomes, reducing costs and simplifying operations.”

The security exchange also welcomed Randell’s “deep understanding and experience of securities markets gained during a distinguished career with global investment firm Citi”.

“His experience spans more than three decades managing and growing equity and derivatives markets businesses across Australasia, Japan, UK, Europe and the Middle East. Having recently retired as Head of Markets Australia and New Zealand for Citi, Mr Randell will provide valuable insights to Board discussions by drawing upon contemporary stakeholder relationships.”

The ASX also added that Heather Ridout will retire from the board in February, and Peter Marriott in April.

– Zurich Financial Services Australia
has appointed high-profile financial services executive Geoff Summerhayes as Chair, following the resignation of former Chair Paul Bedbrook.

Summerhayes was recognised by Zurich for his extensive experience across the insurance, financial services and regulatory sectors, including as a former Executive Board Member of APRA and as Chief Executive Officer of Suncorp Life, Regional General Manager at NAB and Chief Executive Officer of MLC Superannuation and Investments.

Summerhayes said he was ” delighted and honoured to take on this new role”.

“Zurich occupies a unique position as a composite – life and general – insurer and my focus as Chair will be to continue to work with our executive team, led by Chief Executive Justin Delaney, as we evolve Zurich’s proposition and operations for the benefit of our customers and employees.”

Noel Condon and Mary Waldron have also been appointed independent Non-Executive Directors of Zurich in addition to its other related corporate entities.

Nicolette Rubinsztein has also been appointed as an independent Non-Executive Director of Zurich Australian Insurance Limited (ZAIL), in addition to her existing directorships of other Zurich corporate entities.

Condon has more than 40 years’ experience across insurance and reinsurance markets in the Asia-Pacific and Europe. He has previously held senior management roles with American International Group (AIG), including as Australia Chief Executive for nine years and served as a board member of AIG Australia, AIG New Zealand and the Insurance Council of Australia (ICA).

Waldron has more than 30 years’ of experience in audit, risk and consulting as a former Partner at Arthur Andersen and Ernst & Young. She spent 14 years at PricewaterhouseCoopers where she was a member of their Global Leadership team and the Global Chief Risk Officer from 2016 to 2021.


ANZ has appointed Graham Hodges to the boards of ANZ Group Limited and ANZ BH PTY LTD as a Non-Executive Director.

The move follows ANZ’s recent establishment of a non-operating holding company (NOHC) structure “to create distinct banking and non-banking groups within ANZ, following regulatory, government, shareholder and Court approvals”.

As part of the NOHC restructure, ANZ said it had agreed to appoint an additional Non-Executive Director to these two Boards, “being the entities at the head of the ANZ Banking Group, who is not also a director of the NOHC (the newly listed ANZ Group Holdings Limited) or the ANZ Non-Banking Group”, with Hodges appointed to fill that role.

Hodges is currently Chair of Regis Healthcare Limited, an ASX-listed aged care company and a Director of Assemble Communities, a developer and ownership platform supporting affordable and social housing ownership in Australia, in partnership with Australian Super.

Prior to his retirement from ANZ in 2018, Graham had a nearly three-decade career at the bank, including as Deputy Chief Executive Officer for nine years.

From November 2005 to May 2009 Graham was Chief Executive Officer, New Zealand and a Director of ANZ National Bank Limited responsible for the running of ANZ Group’s New Zealand business.


– MLC Life Insurance has appointed David Stephen as an independent Non-Executive Director.

Stephen will also serve as Chair of MLC’s Board Risk Committee, replacing Andy Cornish who is retiring after seven years on the board.

Stephen has served as Group Chief Risk Officer and a Member of the Executive teams of Westpac, Royal Bank of Scotland, and ANZ Bank, “demonstrating a strong record in driving risk management and compliance for some of the largest financial services organisations in the world,” MLC said.

He has also served on the Boards of the International Financial Risk Institute and the Financial Services Institute of Australasia (FINSIA).

MLC Limited Chair Peter Grey welcomed Stephan as “one of the most experienced risk professionals in financial services and this experience will be a great asset for us as we execute the next phase of our business strategy”.