Former chief exec Jake Bromwich departs following scrapped merger plans
Beyond Bank’s deputy chief executive Wayne Matters (pictured above) has been appointed interim CEO of the customer-owned bank as Jake Bromwich’s tenure has come to an end.
The bank announced the leadership change, effective immediately, with Matters set to lead until a permanent successor is named.
Matters joined Beyond Bank in 2001 as chief financial officer and became deputy CEO in 2013. He managed several corporate functions, including finance, data, wealth, and treasury. He has over 30 years of experience in finance, risk management, and administration.
Bromwich stepped down after serving as CEO for more than a year, having taken over from long-time executive Robert Keogh, who retired after 44 years with the bank.
“Mr. Bromwich has made a positive and valuable contribution to the bank and its commitment to customers and their local communities,” Beyond Bank said in an announcement. “The bank thanks him for his service and wishes him all the best in his future endeavours.”
Bromwich’s departure comes after the board of Police & Nurses Limited (PNL) decided not to proceed with a proposed merger with Beyond Bank. The merger, announced in June, would have created one of Australia’s largest customer-owned banks, with 450,000 members and nearly $20 billion in assets.
Under the original plan, Bromwich was to have served as CEO of the combined entity, while P&N Bank CEO Andrew Hadley had indicated plans to relocate to the east coast after leading P&N for 12 years.
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