People Moves

Suncorp Bank CEO Departs After 10 Years

Vanessa Doctor Asia Correspondent 11 November 2013

Suncorp Bank CEO Departs After 10 Years

David Foster, chief executive of Suncorp Bank, is leaving on 9 December 2013 after 10 years with the company, according to a statement posted on the Australian Stock Exchange website.

Foster will be replaced by John Nesbitt, the current chief financial officer whose old post will be assumed by Steve Johnston, deputy CFO. Foster will stay on in an advisory capacity during a transition period. Johnston has been with the company since 2006, while Nesbitt joined the firm in 2010 from Perpetual Limited.

"The Bank is well-positioned and the time is now right for me to pursue other opportunities," said the outgoing executive.

Suncorp Bank is the banking arm of Suncorp Group, the Australian financial services provider. As at 30 June 2013, the group records around A$93 billion ($87 billion) in assets.

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