Former BOQ CEO named Deputy Chair for BNK

Former Bank of Queensland CEO Jon Sutton has been named Deputy Chairman of the board of BNK Banking Corporation, subject to APRA approval.

Sutton replaces the retiring Derek La Ferla.

BNK Chairman Peter Wallace said he looked forward to the experience Sutton would bring to BNK.

"The BNK board will benefit greatly from Mr Sutton's extensive banking experience, as he brings almost 25 years of financial services industry experience to the Group including four years as CEO of Bank of Queensland, and a similar time as CEO of Bankwest, both top 10 Australian Banks by assets," said Wallace.

"Jon has a proven track record of delivery against strategic goals with the ability to see emerging trends and adjust strategy accordingly for success," said Wallace. "He has the ability to work with and influence stake holders and partners including boards, regulators, government, investors, community, and customers."

"Jon's deep industry knowledge and relationships across finance, fintech, resources, property, insurance, retirement living, hospitality, medical and agribusiness and experience leading a top ASX 100 company will be invaluable to BNK as we continue to grow the business to become the bank of choice for enterprising Australians."

Sutton likewise said he was looking forward to the challenges and opportunities with BNK, "as they look to build a significant Australian challenger bank."

"BNK has an exceptional platform for growth and I very much look forward to playing my part in helping the BNK Board to continue to achieve exceptional results for the Group and greater returns for our shareholders."