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Bank hires new wealth chief

A major bank has announced the appointment of a new banking and wealth chief while revealing a new operating model.

Suncorp named Clive van Horen as its new banking and wealth chief executive, saying the appointment brings significant retail and business banking experience in Australia and internationally to the company.

Van Horen has held senior roles in retail and business banking and consulting in Australia and overseas and joins from Commonwealth Bank where he worked the past 10 years.

His most recent role was executive general manager business customer solutions where he was responsible for business products across lending, deposits, merchants and payments as well as analytics and customer strategy.

Suncorp chief executive Steve Johnston said he is pleased to have someone of van Horen's calibre join the Suncorp team.

"Clive has spent the last decade leading teams across CBA's retail and business bank, and I am delighted that he is joining us to deliver banking and wealth's critical contribution to the group's success," Johnston said.

Under the new operating model the banking and wealth arm will be responsible for all banking and wealth operations, customer strategy, finance, marketing and digital distribution, with several functions move from centralised teams.

Suncorp said the changes are aimed at improving the competitiveness of the bank through faster decision making, greater digital capability and ability to address the direct expense base.

"The changes do not signal any shifts of intent regarding the role of the bank which remains core to the group," Johnston said.

"The changes provide further clarity around accountability, consistent with the BEAR regulatory requirements and will see the bank up for improved performance."

Van Horen will commence in the role effective 4 August 2020.

In addition, Suncorp announced a range of other operating changes including a new organisational structure.

A new role of chief executive insurance product and portfolio has been created to lead insurance distribution channels.

The group's current chief customer and digital officer Lisa Harrison, who has been with Suncorp for over 15 years has been appointed to the role.

Another new role of chief operating officer - insurance will lead all aspects of claims management and operations and some group functions including real estate management and procurement.

Paul Smeaton, who has been leading the Suncorp New Zealand business for the last five years has been appointed to the role.

As a result of the changes incumbent chief executive insurance (Australia), Gary Drankfield, will leave Suncorp.

Suncorp New Zealand chief financial officer, Jimmy Higgings will lead the Suncorp New Zealand business in an acting capacity while the group conducts an internal and external search.

Read more: SuncorpClive van HorenSteve JohnstonCommonwealth BankCBAGary DrankfieldJimmy HiggingsLisa HarrisonPaul Smeaton
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