Removes some executive roles
Heartland Group Holdings Limited has announced its new CEO Andrew Dixson (pictured centre) who starts October 1 subject to Reserve Bank of New Zealand non-objection.
The announcement comes as current CEO Jeff Greenslade (pictured left), who in April announced his intention to step down from the position by the end of the year, will handover the reigns to Dixson and retire on September 30.
Besides succeeding Greenslade as CEO, Dixson will also be appointed a non-independent non-executive director of Heartland Bank Limited effective October 1.
Regarding his appointment, Dixson, who is currently Group chief financial officer, said Heartland has been through a few evolutions since it came together in 2011.
“Now, with two strong banks on either side of the Tasman, we have an opportunity to build on the foundation set by Jeff and Chris to enhance each bank’s leading position in its chosen segments,” Dixson said.
Dixson joins strong leadership across the group, which includes Heartland Bank CEO Leanne Lazarus who was appointed in May and Heartland Bank Australia Limited (Heartland Bank Australia) CEO Michelle Winzer.
“With great leaders within each bank, as Heartland Group CEO my role will be to support them to enhance that position. I’m looking forward to continuing to work alongside Leanne Lazarus and Michelle Winzer to deliver strong shareholder value.”
Who is Andrew Dixson?
Having been with the company since 2010, Dixson has been involved in all key parts of Heartland’s evolution, including the initial merger in 2011, New Zealand bank registration in 2012 and Heartland’s listing on the NZX and ASX.
He has also played a critical role in the execution of several major strategic acquisitions, including the acquisition of the Reverse Mortgage businesses in 2014, StockCo Australia in 2022 and Challenger Bank Limited (Challenger Bank) in 2024.
He started his professional career at PricewaterhouseCoopers (PwC) before moving into investment banking with ABN Amro and Credit Suisse, both in New Zealand and the United Kingdom.
Overall, Dixson is a highly experienced finance professional and chartered accountant with over 20 years’ experience in the finance and banking sectors.
The evolution of Heartland
Heartland chair Greg Tomlinson (pictured right) said Dixson’s appointment reflects the evolution of the business since Heartland Bank’s acquisition of Challenger Bank – subsequently rebranded to Heartland Bank Australia.
This was the first acquisition of an Australian bank by a New Zealand bank.
“The Board is confident in Andrew’s ability to lead Heartland in the next stage of its journey,” Tomlinson said.
“This next stage will be focused on capital allocation and an improved return on equity, of which Andrew has proven his leadership in shaping Heartland’s funding strategy in both countries, and through his involvement in complex structured finance transactions and a number of successful material capital raises.”
Heartland reshuffles responsibilities
Dixson’s focus as CEO will be on group strategy, investor relations, corporate finance, capital allocation, and strategic and risk management oversight of each bank. The Group chief financial officer role will not be replaced.
This reflects a significant evolution of Heartland’s role as the parent company of two banks.
Heartland said its operations as parent company are now focused on those matters described above, and a number of responsibilities have moved from Heartland to the respective banks.
As such, the Deputy Group CEO role has been disestablished and Chris Flood will finish with Heartland on October 31, 2024.
About Heartland
Heartland is a financial services group with operations in Australia and New Zealand. Heartland has a long history with roots stretching back to 1875 and is listed on the New Zealand and Australian stock exchanges (NZX/ASX: HGH).
Heartland’s New Zealand business, Heartland Bank, provides customers with savings and deposit products, reverse mortgages, online home loans, business loans, car loans and rural loans.
In Australia, Heartland Bank Australia offers term deposits, is Australia's leading provider of reverse mortgages and provides specialist livestock finance through the StockCo brand.
