Baker appointed to MD of Bendigo and Adelaide Bank
- 26 March, 2018 10:15
Bendigo and Adelaide Bank’s chief customer officer has been appointed to the position of managing director, effective from early July.
Marnie Baker, who will take over from Mike Hirst in the role of MD, has worked across all facets of the Bank since 1989 and led the Bank’s entry into the new payments platform and digital banking.
The announcement follows the ASX-listed financial provider’s strong half-yearly financial results.
Bendigo and Adelaide saw underlying cash earnings grow 10.7 per cent to $225.3 million year-on-year, resulting in net profits of $231 million. Total income was also up 6 per cent to $842.9 million, leading Bendigo and Adelaide Bank to offer a final fully franked interim dividend of $0.35 per share.
Chairman, Robert Johanson, praised the contribution of Hirst over his 15 years with the Bank, and said Baker’s appointment will enable the Bank to build on its position of trust.
“Marnie has been instrumental in driving the successful delivery of our customer-connected strategy, which has delivered significant commercial and reputational value for business,” Johanson said.
Baker said she is extremely excited by the opportunity.
“Working for and on behalf of all our stakeholders - including our customers, shareholders, our people, partners and the community - feeding into their prosperity has defined who we are for the past 160 years. The current focus on trust and fairness for consumers plays to our strengths, and it presents us with a tremendous opportunity,” Baker said.
Earlier this year, the Bank noted a 2.52 per cent rise in net customer numbers growth over the half year, and a customer Net Promoter Score (NPS) of +27 over the period. The bank also saw its employee NPS increase 65.9 per cent and its diversity and inclusion score lift 76.6 per cent over the half, with gender diversity in senior leadership growth at 40.5 per cent.
The longer-term investments Bendigo is making to keep its customer and strategic focus include improvements to platforms, voice-of-customer and mobile relationships, as well as increasing digital capability. This includes better data and insights mining, the launch of Bendigo’s digital bank, and the group’s partnership with startup, Tic:Toc, allowing customers to secure a home loan in just 22 minutes online thanks to real-time processing and risk assessment technology.
Bendigo has also partnered with the National Disability and Insurance Scheme, plus several other organisations to create a new online marketplace, Because. This allows support provides to compete and assess models,