SBS Bank announces interim CEO




The chairman of SBS Bank has today announced the company's chief risk and innovation officer Mark McLean will temporarily take over as CEO.

It comes after the former CEO, Wayne Evans, died suddenly of natural causes a week ago.

In a statement, Mr Ward said Mr McLean has spent the past five years in a crucial executive management position at the bank.

"Mark is a capable individual who currently holds an executive position with us. In addition to his five years in executive management with SBS Bank, he has previously held financial services leadership roles in the UK, Singapore, the Netherlands and New Zealand."

Last financial year, the bank's profit rose 24 percent to a record $19.4 million as increased lending to property investors underpinned growth in its loan book. It held $536.7m in funds under management as at March 31, 2015, up from $442.2m a year earlier, and income from management fees increased to $5.6m from $4.6m.

Evans had invested in a capital expenditure programme focused on the brand, digital capability and upgrading bank branches.

3 News / NZN