ME Bank CEO steps down

ME Bank CEO Jamie McPhee has resigned.

ME Bank chair James Evans said that McPhee has made a significant contribution to the organisation during his decade at the helm, "transforming the scale and extend of ME's retail offering to customers. Me has increased significantly in size and relevance, growing its customer numbers from 234,000 to 542,000, and its assets by 50% to almost $30 billion." The bank also continues to achieve high scores in customer satisfaction.

"Importantly, Jamie has steered the Bank through significant change in the industry and the macro economic environment," says Evans. "Jamie leaves with our thanks and best wishes for the future."

McPhee joined ME Bank as CEO in 2010 from Bendigo and Adelaide Bank, where he was executive director. He had previously been CEO of Adelaide Bank.

"After ten and a half years as CEO, I believe now is the best time to hand over the reins to give ownership of the Bank's post-COVID strategy development and long-term execution to a new CEO," said McPhee.

"In deciding to call time, I know the Bank is in a strong position financially and is well placed for the future, but that the industry challenges ahead and resulting need for change, will require a long-term commitment.

"It has been a pleasure to have led such an outstanding team, one that really cares for our customers, and am pleased that the team's commitment and hard work has been recognised by the many awards received for our products and services."

McPhee will serve through the end of July. CFO Adam Crane will take on the role of acting CEO while the board searches for a replacement.