Banking group names new CEO

Heartland Group Holdings Limited (NZX/ASX: HGH) has announced the appointment of Andrew Dixson as chief executive officer, effective 1 October 2024, pending non-objection from the Reserve Bank of New Zealand.

This decision follows Jeff Greenslade’s indication in April 2024 of his intention to step down from the CEO role by the end of the year. Dixson’s early appointment allows for a comprehensive handover, enabling Greenslade to retire sooner.

Greenslade will officially retire from his role and all Heartland directorships on 30 September 2024. Following his departure, Dixson will take over as CEO and will also be appointed a non-independent non-executive director of Heartland Bank Limited, effective the same day.

Dixson joins a strong leadership team that includes Leanne Lazarus, CEO of Heartland Bank, and Michelle Winzer, CEO of Heartland Bank Australia Limited.

Currently serving as group chief financial officer, Dixson has been with Heartland since 2010. His tenure has seen him involved in significant milestones, including the initial merger in 2011, New Zealand bank registration in 2012, and Heartland’s listings on both the NZX and ASX.

He has also played a crucial role in several major acquisitions, including the reverse mortgage businesses in 2014, StockCo Australia in 2022, and Challenger Bank Limited in 2024.

Heartland chair Greg Tomlinson commented: “The board is confident in Andrew’s ability to lead Heartland in the next stage of its journey.

“This next stage will be focused on capital allocation and an improved return on equity, of which Andrew has proven his leadership in shaping Heartland’s funding strategy in both countries, and through his involvement in complex structured finance transactions and a number of successful material capital raises.”

As CEO, Dixson will focus on group strategy, investor relations, corporate finance, capital allocation, and strategic and risk management oversight of each bank. The group chief financial officer role will not be replaced.

This shift marks a significant evolution for Heartland as the parent company of two banks, with operations now focused on strategic oversight. Consequently, the deputy group CEO role has been disestablished, and Chris Flood will conclude his tenure with Heartland on 31 October 2024.

Flood joined Heartland through a predecessor entity in 1997 and has held several senior management positions, including CEO of Heartland Bank and most recently as deputy group CEO.

His contributions include leading the motor finance business during Heartland’s establishment in 2011 and overseeing the integration of the reverse mortgage businesses in both New Zealand and Australia.

Greg Tomlinson expressed gratitude on behalf of the board: “I would like to express our sincere thanks to Chris for his service to Heartland and acknowledge the value he has created for our shareholders. We wish him all the best in his next endeavours.

[RELATED: Heartland Bank rebrands reverse mortgage business]

Adrian Suljanovic is a journalist at Broker Daily with more than two years experience reporting on all facets of the third party distribution channel.

Adrian has written for a range of business and finance titles including IFA, Investor Daily and Lawyer’s Weekly before joining the mortgages team in 2022.

He graduated from the University of Wollongong in 2021 gaining a Bachelor of Communication & Media with a major in Digital & Social Media.

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