SBS Bank CEO Wayne Evans dies suddenly of natural causes

Thursday 7th January 2016

SBS Bank chief executive Wayne Evans has died suddenly. Evans died yesterday afternoon of natural causes, New Zealand's biggest building society said in a statement. Evans took over the role in July 2014, replacing Ross Smith who had been chief executive for 22 years.

"Wayne was a vibrant and respected leader of our organisation. His passion and strategic leadership will be acutely missed. Our heartfelt condolences go to Wayne's family," the company said.

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 $536.7 million in funds under management as at March 31, 2015, up from $442.2 million a year earlier, and income from management fees increased to $5.6 million from $4.6 million. At the time, Evans said its subsidiaries in consumer finance, wealth management and insurance provided opportunities to grow the bank's value, and it would roll out a capital expenditure programme investing in brand, digital capability and a branch upgrade.

The bank re-branded in November, replacing its maroon and gold colours with orange, in an attempt to broaden its appeal nationwide.

BusinessDesk.co.nz

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