Breaking: The chief executive of ME Bank, Jamie McPhee, is resigning from the industry fund-owned lender
The chief executive of ME Bank, Jamie McPhee, is resigning from the industry fund-owned lender after more than 10 years at the helm, saying now is the time for a change in leadership.
"After 10 and a half years as CEO, I believe now is the best time to hand over the reins to give ownership of the bank’s post-COVID strategy development and long-term execution to a new CEO."His resignation follows a torrid few months for the bank, after it changed its home loan redraw limits for about 20,000 customers without warning them, meaning some customers could not access funds they thought they would be able draw on during the high uncertainty of the pandemic.
ME Bank's statement announcing Mr McPhee's departure on Tuesday did not mention the problems with its redraw accounts. Mr Evans said that under Mr McPhee's tenure as CEO, the bank's customer numbers had risen from 234,000 to 542,000, and its assets had grown by half to almost $30 billion.
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