Suncorp welcomes new acting EGM home lending

Suncorp Bank has announced that Troy Fedder has been promoted to role of executive general manager, home lending, on an acting basis.

Mr Fedder, who has been the head of broker partnerships at the non-major bank for the past three years, stepped into the position today (20 November) in a delegate capacity. He has more than 20 years of experience in the finance space and has held several senior positions in third-party distribution, including at Westpac and CBA.

He takes over the position on an acting basis from his predecessor Bruce Rush who was recently named the incoming chief executive of Suncorp Bank (subject to regulatory approvals).

Mr Fedder’s appointment to the acting EGM role will initially be in a delegate capacity pending these regulatory approvals. Once approved, he will officially take on the acting role on 4 December.

As part of the EGM role, Mr Fedder will oversee the bank’s broader home lending portfolio, which includes the broker partnerships business.

Speaking of his new position, Mr Fedder told Mortgage Business that he would continue to support the broker channel in his new role and “maintain a visible presence with [Suncorp’s] broker partners”.

Mr Fedder commented: “It’s been a rewarding three years heading up the broker partnerships business for Suncorp Bank and I’m excited to be stepping into the role of acting executive general manager (EGM) of our home lending business.

“Over the past three years, our team has worked hard to deliver value for our broker partners and it’s something that I will continue to oversee in this role.

“We’ve invested a lot in enhancing the entire broker journey – from product, policy, process, and broker support to provide greater value to brokers and customers. We’re more customer-focused than ever and I’m so proud of what we’ve been able to achieve in this time.”

Given Mr Fedder’s move into the acting EGM, home lending position, Shane Davis – the bank’s state manager for broker partnerships in Queensland – will become the acting head of broker partnerships.

Mr Fedder said: “I’m pleased to announce that Shane Davis will step into the role of acting head of broker partnerships where he will be leading the BDM teams nationally.

“Shane is well-known and regarded for his role as state manager for Queensland, which he’s held for over a decade.”

Suncorp Bank revealed earlier this month that Mr Rush would become the CEO of Suncorp Bank from 4 December 2023, subject to regulatory approvals. He will take over from current CEO Clive van Horen, who is set to leave the bank next month.

Mr Rush has held various positions since joining Suncorp Bank in 2010, including a number of senior leadership roles such as acting CEO; executive general manager, deposits and payments and executive general manager, home lending.

The changes came amid an ongoing merger deal between Suncorp Bank and ANZ, which is pending review by the independent Australian Competition Tribunal.

After the Australian Competition and Consumer Commission (ACCC) decided to not grant authorisation for ANZ’s proposed acquisition of Suncorp Bank, the lender applied for a review at the Australian Competition Tribunal, which can “vary or set aside” the ACCC’s decision.

In a submission to the Australian Competition Tribunal released last week, major lender ANZ stated that its incorporation of Suncorp Bank “would not alter those competitive dynamics or substantially lessen competition in any relevant market”.

[Related: Suncorp merger ‘would not alter’ competition: ANZ]