Bank of Queensland promotes Rod Finch to CEO as Patrick Allaway departs
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The news: Bank of Queensland has named its chief transformation and operations officer Rod Finch as CEO and managing director, starting 1 March.
Finch will succeed Patrick Allaway, who will retire from his executive role on 28 February having led the bank since 2023.
The context: Finch has served as BOQ's chief transformation and operations officer since 2023, after leadership roles at AMP, Lloyds Banking Group, Westpac and Accenture.
Allaway was appointed a non-executive director and chair of BOQ in 2019, and transitioned to CEO in 2023 to address regulatory challenges, undertake transformation and develop internal succession planning.
What they said: "It has been an honour to lead BOQ as the chair of the board and subsequently its CEO, at the board's request," said Allaway.
"While returning to an executive role was not in my plans, I have worked to stabilise and strengthen BOQ by progressing work to respond to two enforceable undertakings and address the impact of market structural shifts."
BOQ chair Andrew Fraser commented: "As a key leader of BOQ, Rod's appointment will ensure we maintain momentum in executing our strategy to become a simpler, specialist bank with improved performance for customers and shareholders."
The source: ASX
