(2 September 2026 – Australia) A former ANZ group executive has taken the reins of SME lender ScotPac, following the retirement of the non-bank’s outgoing CEO after six years in the role.
The SME lender has named Clare Morgan as CEO, effective today (2 September), following Jon Sutton’s decision to retire.
Morgan brings extensive experience in business lending to the role, having previously led Australia and New Zealand Banking Group (ANZ) business and private banking division and served as executive general manager of small business banking at the Commonwealth Bank of Australia.
She takes over after a strong period of growth at ScotPac, with the lender’s loan book doubling and its customer base tripling during Sutton’s six years at the helm.
ScotPac now has a loan book worth around $3 billion, serving approximately 10,000 customers through a network of around 2,000 brokers.
The ScotPac board thanked Sutton for his leadership and contribution to the business, saying he had led the company through an “important period of growth and transformation”.
Sutton said the past six years heading up the largest non-bank SME lender across Australia and New Zealand had been an “incredibly rewarding period”.
“SMEs are the backbone of our economy,” Sutton said.
“It has been a privilege to work with the outstanding team at ScotPac to deliver financing solutions for thousands of businesses throughout Australia and New Zealand, at a time when they need them most.”
He also welcomed Morgan into the role, saying her experience and leadership made her the right person to guide the business into its next chapter.
“Her experience and leadership make her exactly the right person to guide ScotPac into its next chapter, and I wish her every success in the role,” he said.
An ‘important point’ for ScotPac
Morgan said she was pleased to join the business at an “important point” in its history.
“ScotPac has spent nearly 40 years helping Australian businesses access the funding they need to grow, invest and manage their cash flow,” she said.
“I am committed to working with people and businesses that drive employment, innovation and growth.”
She said her focus would be on identifying where the business could continue to improve.
“ScotPac has a strong platform, experienced people and deep relationships with customers and introducers,” Morgan said.
“I am looking forward to listening to our customers, people and partners to build on our success and identifying where we can continue to improve the experience we provide.”
The leadership change comes as ScotPac sees “significant opportunity” for continued growth, with SMEs increasingly seeking flexible and fast working capital solutions.
Recently, SME lending has reached record levels despite a variety of regulatory and economic pressures.
Speaking to Broker Daily, brokers have also commented on the growing interest in business loans, flagging a structural shift in the role and approach of those in the sector as business pressures and credit requirements shift.
The ScotPac board said Morgan’s appointment came at a natural point in the company’s development as it prepares for its next phase.
“ScotPac has been supporting Australian businesses for nearly 40 years, giving us deep experience, strong relationships and a unique understanding of the needs of SME customers,” the board said.
“The Board is delighted that someone of Clare’s calibre and experience has agreed to lead ScotPac into its next era of growth.”