SBS Bank names Mark McLean as interim replacement for Wayne Evans

Thursday 14th January 2016

SBS Bank has appointed its chief risk and innovation officer, Mark McLean, as interim chief executive after former CEO Wayne Evans died unexpectedly this month from natural causes.

In a statement, SBS chairman John Ward said McLean had extensive experience and the bank was focusing on its long-term strategy.

"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 $536.7 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.

Evans had invested in a capital expenditure programme focused on the brand, digital capability and upgrading bank branches. In November, SBS replaced its maroon and gold colours with orange in an attempt to broaden its national appeal.

BusinessDesk.co.nz

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