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Heartland Group Holdings Limited (Heartland) has announced that it will welcome two new independent, non-executive directors to its board, subject to Reserve Bank of New Zealand non-objection.
Effective from 27 June 2024, Robert (Rob) Bell and Simon Beckett will join the Heartland board.
Bell has more than 20 years’ experience in senior leadership banking roles across a range of listed companies and was the founding CEO of digital challenger bank 86 400 (now part of NAB’s digital brand ubank).
Prior to 86 400, he held executive and CEO roles at Cuscal, Australian Unity Bank and ANZ (including CEO positions at both ANZ Japan and ANZ Fiji).
He is currently a non-executive director of HFC Bank.
Heartland highlighted that Bell’s “extensive Australian banking experience” and “deep understanding of technology, digital and growth strategies” would bolster Heartland’s understanding of the Australian banking market and regulatory environment.
Similarly, Beckett – who has more than 30 years of experience in financial services – will join the Heartland board, bringing with him “deep mergers and acquisition (M&A) experience and extensive financial, regulatory, risk and governance expertise”.
Beckett is currently the founder and CEO of First Avenue Ventures, a company that supports, invests in, and mentors early-stage ventures, and has previously held a range of executive leadership positions within multinational corporates including in the US, UK, Europe, Asia, Australia, and New Zealand.
He also has particular experience working in motor finance businesses, including as chief risk officer and chief commercial officer at Angle Auto Finance, and as managing director of commercial distribution finance at Wells Fargo Capital Finance and GE Capital.
He is currently a non-executive director at private lender ORDE Financial.
Heartland said that the appointments would further contribute to “the depth of expertise and skill” of the board and strengthen the board’s Australian expertise.
Heartland Bank prepares for auto finance, new lending launches
The new board hires come hot on the heels of Heartland’s acquisition of Challenger Bank, which has now been rebranded to Heartland Bank.
The acquisition marked the first time a New Zealand-registered bank has acquired an Australian authorised deposit-taking institution (ADI) and forms part of the group’s move to expand its services to Australian consumers.
It already has a strong reverse mortgage presence in Australia, through Heartland Finance, which has a 42 per cent market share in reverse mortgages.
Heartland Bank now aims to provide Australians with specialist banking products through digital channels and is expected to launch new lending products in the near future, including motor and asset finance opportunities.
Michelle Winzer, a former CEO of Bank of Melbourne, has been named as the CEO of Heartland Bank, taking on her new role on 22 July 2024.
Winzer served as the CEO of Bank of Melbourne from June 2017 to February 2020 and was most recently the CEO of financial services provider RACQ.
In the interim, Chris Flood – the deputy CEO of Heartland Group – has been appointed as the acting CEO of Heartland Bank (Australia) effective 1 May.
Flood will return to his role as deputy CEO later in the 2024 calendar year after a “comprehensive” handover period with Winzer.
The Heartland Bank (Australia) board of directors has also been finalised with Geoff Summerhayes – a former member of the Australian Prudential Regulation Authority (APRA) – being appointed chair and as an independent, non-executive director.
He has been serving on the board of Heartland Group since 2021, following a five-year term as a board member with the Australian Prudential Regulation Authority (APRA).
He also currently serves as the chair of insurance provider Zurich Australia and New Zealand and research provider Beyond Zero Emissions.
Shane Buggle and Lyn McGrath – previous members of the Challenger Bank board – have also been appointed as independent non-executive directors, alongside Vivienne Yu and Bruce Irvine, who were formerly on the Heartland Bank board of directors.
[Related: Heartland Bank acquires Challenger Bank]
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