Suncorp CEO Departs Amid ANZ Merger Stasis
(28 September 2023 – Australia) Suncorp Bank announced the departure of CEO Clive van Horen despite confidence in the tribunal permitting the sale of Suncorp Bank to ANZ.
Mr van Horen will serve as CEO of Suncorp Bank until 24 December to ensure a seamless transition before his move to Colonial First State (CFS).
Following the Australian Competition and Consumer Commission’s (ACCC) merger authorisation rejection last month, both banks escalated the matter to the Australian Competition Tribunal.
“Suncorp Bank is a strong business with great people and customers and has many opportunities ahead of it. I am thankful to the Board and the leadership team for their support” Mr van Horen said.
“I’m also very proud of the Suncorp Bank team and what we’ve achieved working together. I continue to believe that the proposed sale of Suncorp Bank to ANZ is in the best interests of the Bank’s customers, people and the broader community.”
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