Bendigo and Adelaide Bank Limited, Australia’s fifth biggest retail bank, has appointed insider Marnie Baker as Managing Director.
Baker, the Chief Customer Officer, takes over in July from Mike Hirst, who has been CEO for nine years.
She joined the Bank in 1989 and has worked across treasury, capital markets, technology and payments systems, digital strategy, retail banking and funds management.
She led the bank’s entry into the New Payments Platform and digital banking.
Baker says she’s “extremely excited by the opportunity” to build on the bank’s unique market position in Australia’s banking sector.
“Working for and on behalf of all of our stakeholders — including our customers, shareholders, our people, partners and the community — and feeding into their prosperity has defined who we are for the past 160 years. The current focus on trust and fairness for consumers plays to our strengths, and it presents us with a tremendous opportunity,” she says.
Chairman Robert Johanson says Baker’s appointment will enable the bank to build on its position as Australia’s most trusted bank.
“Marnie has been instrumental in driving the successful delivery of our customer-connected strategy which has delivered significant commercial and reputational value for the business,” he says.
Mike Hirst was appointed in 2009 in the depths of the GFC and not long after the merger with Adelaide Bank.
“He has been an outstanding leader and leaves the Bank in great shape,” says Chairman Robert Johanson.
“Mike has helped build a business that is now the fifth biggest retail bank in Australia –one that is stronglyfunded, well capitalised, and with a Net Promoter Score that leads the way among Australian banks.”
Bendigo and Adelaide Bank last month announced an after tax statutory profit of $231.7 million for the six months to December. Underlying cash earnings were $225.3 million, up 10.7%.