Suncorp Finally Names New Chief Executive

Post by NeilMc on July 1, 2009 · Under Business News, Company News, Life Insurance, Wealth Management, banking, insurance · Comment

Regional lender and bancassurance group Suncorp-Metway Lts has announced the appointment of Patrick Snowball as its new chief executive. Mr. Snowball a former executive with UK insurance giant Aviva plc, will begin his tenure with Suncorp, Australia’s fifth largest lender on the 1st of September and also joins the group’s board.

“Mr Snowball is a highly experienced financial services executive, with a strong background in insurance that includes an extensive career at Aviva plc, the world’s fifth largest insurance group and the largest insurance services provider in the United Kingdom.” The company said in a statement.

“I am delighted to announce the appointment of an outstanding leader with extensive financial services experience and who has overseen businesses with operations in the United Kingdom, Ireland, Canada, India and Asia,” Suncorp chairman John Story said.

“Patrick Snowball is uniquely qualified to lead Suncorp through a period of fundamental change and renewed growth as the group reshapes itself to respond to the challenges of the external market.”

Mr. Snowball who will move to Brisbane when he assumes the role of CEO, said he was looking forward to guiding the bancassurance group through a critical stage in its development during one of the most difficult operating environments in recent memory.

“I have accepted the CEO role because I am very confident about the underlying strength of the group’s businesses and the potential that exists within its strong stable of financial services brands,”

“Mr Story and the board have been very open about the challenges Suncorp faces and the expectations of its various stakeholders. “he said.

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