New wealth management head at Suncorp

Suncorp Metwayhas poached another Commonwealth Bank executive to fill one of its top jobs, this time the position of head of wealth management.

Former Commonwealth Bank senior executive Bernadette Fifield is set to join the group in early April as its group executive in charge of Suncorp’s wealth management division.

Fifield was most recently executive general manager of business development at Commonwealth, and has held a number of senior executive roles at the bank since 1994.

Prior to joining Commonwealth, Fifield spent nine years at Advance Bank after beginning her career at GIO.

Former Commonwealth Bank (CBA) senior executive John Mulcahy was appointed managing director and chief executive officer of Suncorp late last year.

Announcing a management restructure of the group yesterday, he said it needed to “simplify the organisation and provide clearer lines of authority and accountability”.

The changes have seen the departure of former group executive of banking and wealth management Greg Moynihan, who was with Suncorp for 16 years. Moynihan was the chief executive of Metway Bank prior to the merger of Suncorp and QIDC in 1996.

In other internal movements as a result of the restructure, former group executive of retail distribution and human resources Mark Blucher has been appointed group executive of retail banking, responsible for all retail banking products and distribution, including the branch network.

Previous group executive of business distribution, Ray Reimer, is now the group executive of business banking, responsible for commercial lending, agribusiness, property development, property investment and leasing. Peter Johnstone has been appointed group executive of projects, services and human resources.

Meanwhile, John Trowbridge will continue as group executive of general insurance, Chris Skilton continues as chief financial officer and executive director of the company and Carmel Gray will continue as group executive of information technology.