iscover 
Bank of Queensland Limited (BOQ) has announced that it will promote its chief transformation and operations officer, Rod Finch, to chief executive officer and managing director of BOQ on 1 March 2026.
Finch will take over the position from Patrick Allaway, who will retire from his executive role on 28 February 2026 (but will “be available” to BOQ until 31 August 2026, when his employment will officially cease).
The incoming BOQ CEO and MD has more than 20 years’ experience in the financial services industry, and has spent the last five years at BOQ Group.
Prior to joining BOQ, Finch was managing director of AMP Bank, and held several roles in the wealth platforms and customer segments space.
Over his career, he has held several roles across customer, product, strategy and transformation in both Australia and the United Kingdom.
Speaking of the appointment, BOQ chair Andrew Fraser said: “As a key leader of BOQ, Rod’s appointment will ensure we maintain momentum in executing our strategy to become a simpler, specialist bank with improved performance for customers and shareholders.
“Rod’s executive leadership of BOQ’s strategy and transformation priorities provides leadership continuity at a pivotal stage for BOQ Group.
“During his tenure at BOQ, Rod has led the digital transformation and the program to uplift operational and risk performance.”
Commenting on his appointment, Finch said: “I am honoured to be appointed CEO and grateful for the trust the board has placed in me.
“I look forward to leading the organisation, building on the strategic transformation initiated by Patrick to improve outcomes for our customers, shareholders and the communities we serve.”
Reflecting on Allaway’s legacy
Noting the departure of Patrick Allaway, the BOQ board expressed gratitude for his leadership during a “challenging and strategically important period” for BOQ.
While he had been a non-executive direct and chair of BOQ, Allaway stepped in become CEO in 2023 to address regulatory challenges and “required transformation”.
BOQ had entered into enforceable undertakings with APRA and AUSTRAC that year, after regulators identified serious deficiencies in its risk management, governance, operational resilience and AML/CTF controls, resulting in mandated remediation plans, independent oversight and a $50 million capital add-on.
Fraser said: “Patrick leaves BOQ with strengthened operational and financial resilience, accelerated growth in our business bank and the build of the digital retail bank largely complete and delivering a materially improved customer experience. He has built a strong executive team that is delivering on our strategy with improved engagement and culture scores.
“We are grateful for Patrick’s service and his dedication to BOQ and for his steadfast support of our internal and external succession processes and wish him well in his retirement.”
The outgoing CEO said: “It has been an honour to lead BOQ as the chair of the board and subsequently its CEO, at the board’s request.
“While returning to an executive role was not in my plans, I have worked to stabilise and strengthen BOQ by progressing work to respond to two Enforceable Undertakings and address the impact of market structural shifts.”
He continued: “I am comfortable that I am leaving BOQ in a stronger position and the time is right to handover to Rod’s very capable leadership.
“Rod has a clear vision for BOQ and will retain momentum in building on the foundational work over the past few years to return BOQ to sustainable growth. I wish Rod every success and am confident in the next chapter for BOQ under his strong leadership.”
Over the past few years, the banking group has changed its lending strategy several times - with BOQ “pausing” mortgage distribution through the broker channel in 2024 and shifting its primary broker focus to ME Bank.
The banking group has also been through a digital transformation, with new broker technology being rolled out across ME Bank.
[Related: BOQ dumps over 12k brokers]