(24 June 2025 – Australia) The newly installed business banking head for BoQ, Julian Russell, has departed the group a mere three months after entering the role, commencing a hunt for the fifth permanent executive appointment in the division since 2019.
Following Mr Russell’s appointment in March, he resigned this week despite quickly emerging as a potential candidates to assume the role of BoQ CEO from Patrick Allaway.
The bank recently abandoned its unique franchise branch model following the sudden departure of ex-CEO George Frazis after only two years in the role.
“If things are going well, people don’t leave. You need holistic change from the board, management and everything else, which is difficult to do” commented TenCap portfolio manager Jun Bei Liu, noting BoQ’s leadership had a big task ahead to boost returns.