Movers & Shakers, Financial Services | June – July, 2023

Matthew Ellis Macquarie
Macquarie Group's newly appointed CDO, Matthew Ellis

Macquarie appoints new digital chief; Zepto, a PayTo specialist fintech, unveils new CTO; SelfWealth lets go of its CEO; and a shake-up of newly merged Newcastle Greater tech leadership.

Updated 6/7/23, 4:30pm – see Departures

– Macquarie Group has promoted Matthew Ellis to lead the group’s digital function.

Ellis, who steps into the global Chief Digital Officer role, most recently served as Macquarie Group’s Head of Engineering. He was appointed to the role in April 2022, which expanded the original remit of the Head of Engineering from Macquarie’s BFS division to a global, whole-of-organisation role – a position he held for four years.

Announcing his latest move on LinkedIn, Ellis said the role would involve overseeing Macquarie’s digitalisation efforts “across [its] global presence of over 20,000 staff in 34 markets”.

He said he was “embarking on the next chapter of my 20-year career within Macquarie Group,” having begun his career at the financial services group as part of a 2003 IT internship program.

As a result of the move, Jason Poley will step into the role of Head of Engineering.

Ellis now reports to Global Chief Operating Officer and Head of Corporate Operations Group, Nicole Sorbara.

Further commenting on his new role, Ellis said: “The financial industry is undergoing a seismic shift, and embracing digital solutions across all aspects of our business is crucial”.

“Digitalisation exists at the intersection between product, design, engineering, architecture and data and we will harness the combined power of these disciplines to drive transformational change.”

“I am committed to sponsoring bold new initiatives, incubating emerging technologies and delivering exceptional digital experiences for our staff and clients.”


– Payments and PayTo specialist fintech Zepto has appointed Rich Miller as Chief Technology Officer (CTO).

Miller joins Zepto from Prospa, an ASX-listed fintech SME-specialist lender, where he also served as CTO.

He was also formerly CTO at Willow, a digital twins developer.

Miller has notched up more than 30 years’ experience in the tech space, having held roles with startups and scaleups in software engineering, security consultant, and CTO roles.

Zepto Chief Executive Chris Jewell recognised his new CTO’s “rich’s proven track record of driving technological innovation, building great engineering teams, and his unwavering commitment to excellence”.

This, Jewell added, “makes him the ideal leader to guide our company’s technology strategy and future growth.”

Speaking of his appointment Miller said: “Zepto’s bold vision to create a world-class technology company, its strong innovation culture, its people-first values, and commitment to fostering a safe and secure payments experience are what attracted me to this role.”


– Cbus Super has formally appointed Kristian Fok as Chief Executive of the super fund. Fok had been serving as Acting Chief Executive since May following the retirement of Justin Arter.

Fok was previously the super fund’s Chief Investment Officer (CIO), holding the role for the last decade.

Cbus Chair Wayne Swan welcomed the formal appointment of Fok, noting that the former CIO’s role in positioning the Cbus at “the leading edge of pension funds around the world”.

“[We] are excited that he will now devote his considerable abilities to the wider leadership of the fund,” Swan added.

“He innately understands the fund, its heritage, and our connection to the built environment sector.”

As CIO, Fok led the development and implementation of Cbus’ hybrid internalisation strategy, which brought the management of 38 per cent of the fund’s assets in-house, resulting in a more than $500 million cost saving for members.

Cbus has also appointed Marianne Walker as Deputy Chief Executive Officer.

Walker has been a Cbus executive since 2019 and is also currently the fund’s Chief Member Officer. She joined Cbus from Victoria’s Department of Health and Human Services where she had been Executive Director of Customer Support.

Swan added, “Marianne brings a genuine and no-nonsense member-first attitude to her work.

“Administering superannuation funds has increased in complexity as funds have expanded, and Marianne carries a fierce determination to cut through barriers and deliver the best possible services for our 900,000 members, now and into the future.

“She calls a spade a spade and what you see is what you get. Our members and sponsoring organisations appreciate that.”


–, a Queensland-based fintech lender, has promoted Steven Brown to the position of Chief Technology Officer (CTO).

Brown has served as Funding’s Head of Technology since 2020, with the company acknowledging his “pivotal role in revolutionising the digital lending experience through the development of Funding’s proprietary software”.

“Under his leadership, the company has successfully launched market-leading tools, including an integrated software platform, automated quoting system, online investor marketplace, amongst countless other releases.”

Jack O’Reilly, Founder and Chief Executive of, welcomed the appointment of Brown, noting his “instrumental” role “in driving our technological advancements” and as the “dynamic force behind our market-leading tools”.

“With his expertise, we continue to revolutionise the digital lending landscape, providing our customers with exceptional service and a streamlined lending journey.”


– Zurich has appointed Matt Paterson to the newly created position of Chief Claims Officer (CCO), Australia and New Zealand.

Paterson arrives from health insurer nib, where he served as Group Chief Operations Officer, responsible for operational contact centres and claims functions across the group.

Reporting directly to Chief Executive Officer, Justin Delaney, the Chief Claims Officer role will have enterprise-wide responsibilities for all claims teams and functions across Zurich’s Retail Life, Group Life and General Insurance business segments.

Zurich recognised Paterson’s more than 20 years’ experience across customer service, financial services, telecommunications and consulting.

Delaney said: “I am delighted to have an executive of Matt’s calibre and experience join Zurich. As the only major composite – life and general – insurer in the market, this appointment represents an important structural change to our team and our business more broadly.”

He added: “A positive and efficient customer claims experience is core to our promise as an insurer. Bringing our claims teams together into one collective function provides a unique opportunity to integrate and scale our claims management and service delivery functions.”


– The Commonwealth Bank of Australia (CBA) has appointed Karen O’Flynn as Group General Counsel and Group Executive Legal & Group Secretariat.

She will replace CBA’s current legal chief Carmel Mulhern, who announced her decision to depart the bank in early September after her three-and-a-half year tenure, opting for board-based roles.

O’Flynn currently serves as Partner and Executive Chair of legal firm Clayton Utz.

O’Flynn, CBA said, is “recognised internationally and domestically as a leading legal practitioner and commercial litigator. She has been a Partner of Clayton Utz for 28 years, and has held a number of leadership positions including Chair of the Clayton Utz Board since 2020.”

Commenting on the latest executive appointee, CBA Chief Executive Matt Comyn said: “Karen brings a breadth of experience in financial services over her legal career, including supporting the bank through the Royal Commission. The leadership team and I look forward to welcoming Karen to CBA.”

Commenting on the outgoing Mulhern, Comyn said: “Carmel has been a valued member of the bank’s executive leadership team, with a strong focus on our customers and our people. During her time with CBA, she has played an important role in ensuring the fair and efficient resolution of the Group’s legal matters, as well as strengthening our relationships with key stakeholders.



– iTnews has reported that Jodi Stapleton will step down from her role as Chief Technology Officer at Newcastle Greater Mutual Group, following an organisational restructure at the newly merged mutual banking group.

The publisher also revealed that Newcastle Greater Head of Cyber, Josh Hessel, has left the organisation, with Jeremy Andreani stepping into his role.

Andreani comes from the Greater Bank side of the recently merged business, having previously served as Greater’s Head of Cyber & Operational Resilience Risk. Part of the Greater Bank group for more than 12 years, Andreani held a variety of technology roles within the Hunter-based mutual bank.


Share trading platform SelfWealth has announced to the ASX the resignation of Chief Executive Cath Whitaker “with immediate effect”.

Paul Cullinan, currently Interim Chief Financial Officer (CFO) will step in as Acting CEO. Scott Farndell, as announced early last week, has been permanently appointed CFO and company secretary; he is set to take up the role in late August.

Thanking Whitaker for her contributions, newly appointed SelfWealth Chair Christine Christian said the company was “undergoing a period of transformation” with the board’s focus on “reshaping the leadership team to ensure Selfwealth is strategically and commercially positioned to take advantage of growth opportunities.”

She added: “The board will act decisively to guide SelfWealth throughout its transformation and work to maximise the company’s value and deliver growing shareholder returns”.

SelfWealth’s share price dropped 3.23 per cent following the announcement.

The company announced a modest profit of $100,000 in its recent half-year report the first time it has reported a positive NPAT since its launch in 2012.

Whitaker was let go with a six-month termination of salary payout.


– The Australian Securities Exchange (ASX) has appointed Clive Triance as Group Executive of Securities and Payments, replacing the departing Tim Hogben.

Triance comes from US financial services technology giant FIS where he served as Managing Director, Head of Strategic Account Management for just over three years.

Hogben departs the ASX after more than 20 years, beginning his career with the exchange in 2000 as a Senior Operations Analyst. Prior to his most recent role as securities and payments chief, held since November 2021, he served as head of the ASX’s equity post-trade function.

Before this, he was the ASX’s Chief Operating Officer for just over three years.

In his most recent position, which involved a mix of technology and operations functions, Hogben oversaw the securities exchange’s cash equities clearing and settlement businesses, its settlement and depository business for the wholesale debt market, critical support services for ASX Collateral, payments, and financial settlement management (the settlement platforms FSM/Sympli), and as well as issuer and post-trade investor services.

He also assumed overall executive responsibility for delivery and governance, in October 2020, of the ASX’s bedevilled CHESS replacement project. Hogben was also charged with leading the creation of the recently released ‘special report’ on the sustainability and maintenance of the current CHESS program.


– NZ-based tier-two bank TSB has announced the forthcoming departure of Chief Executive Donna Cooper.

TSB recognised Cooper’s “significant” role in the bank’s regulatory uplift and growth of residential lending.

Chief Financial Officer Gordon Davidson will step in as Acting Chief Executive from 28 July.


– NAB has announced that Group Executive People and Culture Susan Ferrier will retire from the bank at the end of October.

Group Chief Executive Ross McEwan recognised Ferrier’s “outstanding role… in leading the company’s response to the pandemic.”

“Susan has contributed towards our ambition to drive a high-performance culture at NAB.”

“She has been passionate about our professionalism and consistent approach to supporting customers and colleagues.”

Ferrier joined NAB in 2019 from KPMG, most recently as Global Head of People. Her HR career spans more than 30 years across financial and professional services.

NAB confirmed that Ferrier intends to transition after her retirement into Non-Executive Director roles.

The bank added that a successor for Ferrier will be selected in due course.


Helen Rowell has stepped down as Deputy Chair of APRA after 10 years in the role and more than two decades at the prudential regulator.

She joined APRA in 2002 as a General Manager and held a number of executive roles before her appointments as an APRA Member in 2013 and Deputy Chair in 2015.

She was appointed to a second five-year term as Deputy Chair in 2018, becoming one of APRA’s longest serving members.

APRA Chair John Lonsdale acknowledged Rowell’s significant contribution, particularly in the insurance space, “where she led major reforms to the capital framework, and in superannuation where she oversaw the creation and implementation of APRA’s prudential framework for that industry”, APRA said in a statement.

The regulator added: “Under her watch, APRA stepped-up pressure on underperforming trustees to merge or exit as we heightened focus on boosting member outcomes. Helen also championed APRA’s cross-industry work on governance and risk management, and in the last few years oversaw significant initiatives in areas such as climate risk.”


NAB has appointed Alison Kitchen as an Independent Non-Executive Director, effective 27 September 2023.

Kitchen has been National Chair of KPMG Australia and a member of KPMG’s Global and Regional boards for almost six years and a KPMG employee for more than 30 years, providing advice in areas including external audit, transaction support, risk management, internal controls, business processes and regulatory change to a wide range of industries, including financial services.

Kitchen will be a member of the NAB Board’s Audit Committee and will succeed David Armstrong as Chair of that Committee when he steps down from the Board after the NAB 2023 Annual General Meeting (AGM).


ANZ has appointed Holly Kramer to its board as Non-Executive Director.

Kramer previously served as Chair of Lendi Group, Deputy Chair of Australia Post, and Director of AMP Limited and Nine Group.

ANZ also recognised Kramer’s directorship experience at Woolworths Group, Fonterra, and Endeavour Group.

She was also formerly Chief Executive of retailer Best and Less and served in a number of customer-facing roles at Telstra, Ford and Pacific Brands.


Australian Military Bank has announced that Alan Bardwell has been appointed as Chair of its board, replacing Group Captain John Brooks (Retd), who is set to retire.

Bardwell steps into the role after serving, since 2019, as Deputy Chair of the board.

Brooks joined the Australian Military Bank’s Board of Directors in 2000 and has served as Chair of the Board Since 2018.

Bardwell will take on the overall leadership of the Board, including Board and Bank governance, working with Chief Executive Darlene Mattiske-Wood on shaping the Bank in line with its strategic plan.

Bardwell’s executive career includes 16 years at Citigroup and 10 years with the Australian Securities Exchange where he was Chief Financial Officer and then Chief Risk Officer, and he has extensive knowledge of retail, corporate and investment banking.


– Bendigo and Adelaide Bank (BEN) has announced the appointment of Margaret Payn as a Non-Executive Director, effective 14 September 2023.

Bendigo recognised Payn’s “extensive global experience across financial services including retail banking, institutional banking and wealth management”, as well as Non-Executive experience in publicly listed companies across Australia, Asia and the UK.

She will also serve as a member of the Board Risk and Board Financial Risk Committee.

Payn most recently served as AMP Capital’s Chief Financial Officer and Chief Operating Officer for the asset management division and she has held roles as Group Managing Director of Strategy and Marketing at ANZ Banking Group as well as Chief Financial Officer for ANZ’s retail bank and General Manager Group Finance for Westpac.

Jim Hazel, a long-standing BEN director, is also set to retire from his role.

BEN Chair Jacqueline Hay, welcomed Payn to the board and thanked Hazel for his 13 years of service: “Margaret’s leadership experience internationally and with a range of local financial services companies, will greatly assist the Bank’s plans for future growth and continued innovation.”

“For the past 13 years, Jim has carefully assisted the Board in setting the vision, strategic direction, values and purpose of our organisation, along with a deep understanding of regional and rural interests and I thank him for his lengthy service to the Bank”, Ms Hey concluded.


Teachers Mutual Bank (TMB) has announced the resignation of Murat Dizdar, PSM, from the Bank’s Board.

His decision to resign follows his appointment to the role of the Secretary of the NSW Department of Education.

Elected to the Board in January 2021, TMB Chair Maree O’Halloran recognised Dizdar’s “passion for education and the public education sector during the past two years”.

Andrew McCready, Deputy Chairperson of the TMB Board since 2016, has also stepped down from this position; however, he remains on the bank’s board, with Andrew Kearnan successfully elected to the role of Deputy Chairperson. Kearnan was appointed to the Board in September 2020.

“I would like to acknowledge the service and support shown to me as Chair by outgoing Deputy Chairperson Andrew McCready and welcome the incoming Deputy Chairperson Andrew Kearnan,” O’Halloran said.

“I look forward to his support as we work closely with the Directors of the Teachers Mutual Bank Limited Board in growing the Bank and to providing superior value for our members.”

Kiwibank has appointed Jonathan Keith Macdonald as an Independent Director.

Macdonald was previously Chief Executive of Trade Me, a NZ-based online classifieds site, from 2008 to 2019. Macdonald has served in a range of senior technology and digital roles, including stints at HSBC Investment Bank in London and Deloitte, with a focus on telecommunications and financial services.

Macdonald has served on the board of NZX (New Zealand’s stock exchange) from 2013 to 2021, and is currently a director of Contact Energy, Mitre 10, My Food Bag, Trade Me (through its parent company Titan) and Sharesies.