Fitzpatrick to retire as Adelaide Bank CEO
(25 July 2006 – Australia) Adelaide Bank chief executive Barry Fitzpatrick is set to retire at the end of year following a 30 year career with the regional bank.
The bank’s current chief operating officer Jamie McPhee will take over from Fitzpatrick as CEO when he leaves the bank on 15 December.
Adelaide Bank chairman Adele Lloyd said McPhee has been groomed for the CEO role over many years, had experience of all parts of the bank, and had been responsible for day to day running of the bank for the past 12 months.
Fitzpatrick’s career with the bank began in 1974 when he joined what was then a co-operative building society as an accountant, working his way to CEO in 1985.
In 1987 he joined the board and was made group managing director and CEO. The building society became Adelaide Bank in 1994.
"When he first headed the organisation it had assets of $715 million, a far cry from the $23 billion plus in assets under management today by Adelaide Bank," Dr Lloyds said.
Adelaide Bank chairman Adele Lloyd said McPhee has been groomed for the CEO role over many years, had experience of all parts of the bank, and had been responsible for day to day running of the bank for the past 12 months.
Fitzpatrick’s career with the bank began in 1974 when he joined what was then a co-operative building society as an accountant, working his way to CEO in 1985.
In 1987 he joined the board and was made group managing director and CEO. The building society became Adelaide Bank in 1994.
"When he first headed the organisation it had assets of $715 million, a far cry from the $23 billion plus in assets under management today by Adelaide Bank," Dr Lloyds said.
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