Former Citigroup managing director Roger Davis has been appointed Bank of Queensland chairman following the retirement of incumbent Neil Summerson.
Summerson had announced at BOQ’s annual general meeting in December 2012 that he intended to step aside in 2013. He will remain on the board until 30 July.
“Last year I said I would retire when the Bank was delivering on its new strategy. I am confident we have reached that point and the time is right for new board leadership,” Summerson said.
He said that following the challenges faced during the global financial crisis, the bank had put in place a more diverse management team, restructured its balance sheet and was making progress in reviewing and renewing its systems and processes.
Davis, who was appointed as a director of the bank in August 2008, said he was looking forward to working closely with managing director Stuart Grimshaw and his executive team.
“Neil has made an enormous contribution to BOQ’s development since joining the board in 1996 and, as chairman, he has helped the bank reposition for growth by overseeing a number of key acquisitions, most recently Virgin Money Australia,” he said.
Davis has 32 years experience in banking and investment banking in Australia, the US and Japan, recently serving as a group managing director of ANZ Bank and, before that, a director of ANZ New Zealand.
He is currently a consulting director at Rothschild Australia.
