Trans-Tasman banking group sets sights on growth
Heartland Bank Australia has welcomed Michelle Winzer as its new CEO after Heartland Bank NZ acquired and rebranded the firm earlier this year.
Winzer, who previously served as chief executive banking at RACQ (Royal Automobile Club of Queensland) Bank, brings over 30 years of experience in the financial services industry to her new role.
“We’re pleased to welcome Michelle to Heartland today, as CEO of Heartland Bank in Australia,” said Leanne Lazarus, Heartland Bank New Zealand CEO.
“I’m looking forward to working with Michelle as Heartland grows its business as a trans-Tasman banking group.
“Heartland Bank in New Zealand and Australia remain focused on driving growth in our specialist areas of expertise and providing customers with banking products which are the best or only of their kind, through digitalisation and automation.”
The first NZ-owned bank to acquire an Aussie bank
On April 30, Heartland Group’s New Zealand bank acquired Melbourne’s Challenger Bank, making it the first New Zealand registered bank to acquire an Australian authorised deposit-taking institution (ADI).
Heartland Group, which is listed on both the New Zealand and Australian stock exchanges, includes Heartland Bank New Zealand, Australian reverse mortgages business Heartland Finance, and Australian livestock finance division StockCo Australia.
Digital bank Heartland Bank Australia was formed as the result of Challenger Bank being rebranded and becoming part of the group’s Australian operations.
This came after the Group won indicative approval by Australia’s prudential regulator APRA.
On July 12, Heartland Group also announced that Chris Flood concluded his role as acting CEO of Heartland Bank Australia on July 21 and will recommence employment with Heartland as group deputy CEO subject to RBNZ approval.
Who is Michelle Winzer?
Winzer brings a wealth of experience to the role. She was chief executive of banking operations at the member-owned RACQ Bank for three years and was CEO of the Bank of Melbourne from June 2017 to February 2020.
Winzer also held senior management roles at Commonwealth Bank of Australia, Bankwest and Westpac. She’s a graduate of the AICD Company Directors Course and a member of the AICD and has completed an MBA through Melbourne Business School.
Heartland Bank described Winzer as an “authentic visionary leader with extensive experience delivering cultural transformation”.
“She has a strong values-based leadership style and is passionate about diversity and inclusion,” the bank said.
Heartland Bank chair and Independent non-executive director, Geoff Summerhayes, said the board was thrilled to have Winzer leading a team of high-calibre executives.
“We are ambitious for the new Heartland Bank to continue the growth of Heartland’s specialist business in reverse mortgages and livestock finance,” Summerhayes said.
“Michelle is a strong leader, who has a track record of delivering outcomes.
“The banking landscape and product set has contracted in recent years, and we believe there is great potential for a focused specialist bank, like Heartland Bank, to meet the needs of underserved segments such as older Australians and livestock graziers with our ‘best or only’ banking strategy.
“The board is excited to have Michelle on board to lead the execution of Heartland Bank’s strategy.”
Summerhayes said Winzer would be based at Heartland Bank’s Melbourne office, focusing on executing the bank’s strategic priorities for continued growth, as it looked to help more Australians to do more with their money.
“Whether that be helping people make the most from their savings, supporting livestock producers to access capital with specialist livestock finance, or providing reverse mortgage solutions to help Australia’s ageing population to live a more comfortable retirement.”
Competitive rates and specialist banking products
Heartland Bank is Australia’s largest ADI provider of reverse mortgages and a specialist provider of livestock finance (through the StockCo brand).
The bank said it was focused on providing Australians with competitive term deposit rates and “specialist banking products that are the best or only of their kind, through digital channels”.
