Bank veteran Stuart Grimshaw will join Bank of Queensland (BOQ) as its new managing director and chief executive officer, following the recent resignation of David Liddy.
Grimshaw, who will commence his new role at BOQ on 1 November, has also resigned from the board of Suncorp Group, where he served as a non-executive director.
During his 30 years in the financial services industry, Grimshaw performed executive roles at Commonwealth Bank of Australia and led what was later renamed as the wealth management division of Colonial First State.
He was chief executive of National Australia Bank in the UK, and most recently, chief executive officer of Caledonia Investments.
Grimshaw will receive an annual remuneration of $1.25 million at BOQ, as well as short-term and long-term bonus incentives ranging up to 160 per cent of his salary.
