Jon Sutton to lead BOQ
Banker Jon Sutton has been appointed the new chief executive of Bank of Queensland (BOQ).
Sutton, who joined BOQ in 2012, has been acting chief executive since the departure of Stuart Grimshaw in September last year. Sutton was previously BOQ’s chief operating officer.
He has more than two decades experience in banking and prior to BOQ was the managing director of Bankwest.
Before that he was executive general manager of Commonwealth Bank Agribusiness.
The Bank of Queensland chief executive Stuart Grimshaw resigned to pursue a non-banking opportunity outside Australia at a small financial services company in the United States, the NASDAQ listed Ezcorp which owns the Cash Converters franchise. It also has outlets in Mexico through Grupo Finmark and the UK through Cash Genie.
The bank chairman Roger Davis said the board was disappointed at Grimshaw's departure. Grimshaw had joined BOQ in November 2011, succeeding David Liddy, who had been the chief since April 2001.
The bank is one of the oldest financial institutions in Queensland, with a network of around 270 branches, including 152 in Queensland, 52 in New South Wales, 23 in Victoria and 34 in Western Australia.