BoQ Unveils Former Westpac Executive As New CEO

By Glenn Dyer | More Articles by Glenn Dyer

Bank of Queensland has filled its vacant CEO role, a week after revealing a new chair.

The Brisbane-based regional lender said on Thursday that former Westpac executive, appointed George Frazis, would be the new CEO. He was also a CEO of St George Bank under Westpac’s ownership.

He will replace Jon Sutton who stepped down last December because of ill-health

The bank said on Thursday Mr. Frazis was the right choice to lead the bank through a period of major upheaval as banks face a wave of digital disruption. Mr. Frazis, who will start in the job in September, ran Westpac’s flagship consumer banking arm until earlier this year when he left after a major restructure.

Mr. Frazis nominated “digital innovation” as his top priority for the bank when he becomes CEO.

“Disruption across the industry is moving at pace. The BoQ board and I recognise the need to respond decisively to address the challenging environment facing BoQ, and indeed all banks,” he said in a statement on Thursday morning.

The bank last week confirmed Patrick Allway would replace Roger Davis as chair later this year.

The shares rose nearly 1% to $9.44.

Glenn Dyer

About Glenn Dyer

Glenn Dyer has been a finance journalist and TV producer for more than 40 years. He has worked at Maxwell Newton Publications, Queensland Newspapers, AAP, The Australian Financial Review, The Nine Network and Crikey.

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