Van Horen quits as Suncorp Bank Chief
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The news: Clive van Horen will wrap-up as Suncorp Bank's chief executive at the end of the year to pursue a non-banking opportunity.
The numbers: Van Horen, a former CBA executive, has steered Suncorp's Banking arm since August 2020. The segment's net profit rose by 27.7% to $470 million in the group's most recent full-year results.
The context: ANZ's planned acquisition of Suncorp Bank is currently under review, after Suncorp group challenged an ACCC finding the takeover would disadvantage Queensland customers. Should the appeal succeed, the deal is expected to settle by the middle of 2024.
What they said: "I’m... very proud of the Suncorp Bank team and what we’ve achieved working together,” Mr van Horen said.
“I continue to believe that the proposed sale of Suncorp Bank to ANZ is in the best interests of the Bank’s customers, people and the broader community.”
The source: ASX Announcement
