Suncorp Group has announced that Bruce Rush will replace Clive van Horen as chief executive officer of Suncorp Bank from next month.
Mr Rush joined Suncorp in 2010 and has held a number of senior leadership roles in its banking division, including acting CEO and executive general manager of deposits and payments. He has most recently served as executive general manager of home lending.
Suncorp Group CEO Steve Johnston described Mr Rush as an experienced financial services executive with a deep understanding of the banking industry.
“Bruce has been a valuable member of Suncorp’s leadership team for many years and has made a significant contribution to the improved performance of the bank across both its lending and deposit portfolios, amid what have been incredibly competitive market conditions in recent years,” Mr Johnston said.
“With a proven track record in delivering enhanced customer and financial outcomes and leading through periods of considerable change and complexity, Bruce’s appointment reflects the strength of talent we have within Suncorp Group.”
Commenting on his appointment, Mr Rush said he was honoured to have been named as Suncorp Bank’s next CEO and pledged to work with the leadership team to continue delivering value for customers and brokers.
“I am proud of the progress we have made over the past three years to deliver on our strategic plan and strengthen the Suncorp Bank business,” he said.
“I also believe the opportunity to further strengthen our business through the proposed sale to ANZ is in the best interests of our customers, people and the broader community.”
“We have the full support of the Suncorp Group as the approvals process remains underway, and my focus will be on ensuring the team is equipped to continue delivering on the bank’s operating plan during this time, and most importantly delivering great customer experiences every day,” Mr Rush added.
The appointment of Mr Rush as Suncorp Bank CEO comes after Mr van Horen was revealed as the next CEO of Colonial First State back in September.
“I’m delighted to have Bruce permanently join Suncorp’s executive leadership team and I’m confident his strong execution and leadership qualities will see the bank continue to build on the positive momentum already achieved over the past few years,” Mr Johnston said.
“He will provide continuity and stability in leadership in the current environment, particularly as the process remains underway to sell Suncorp Bank to ANZ.”
ANZ previously indicated that it expects its acquisition of Suncorp Bank to be completed by mid next year.
Jon Bragg is a journalist for Momentum Media's Investor Daily, nestegg and ifa. He enjoys writing about a wide variety of financial topics and issues and exploring the many implications they have on all aspects of life.