P&N Bank has tapped a former mutual executive to succeed long-serving chief Fred Huis at the end of the year.
WA-educated Andrew Hadley is national business manager at CGU Insurance in Sydney but until last December was general manager, strategy and marketing, with Credit Union Australia.
Mr Huis is stepping down after 30 years with P&N and its predecessor, the Police & Nurses Credit Society.
Chairman Paul Gabb cited Mr Hadley’s “strategic vision, drive and significant experience in mutual banking, change management, leadership, marketing and business development”.
“Looking to the future, we need a CEO who will lead, energise and unlock further potential with the P&N bank business and who also innately understands the member-first philosophy,” he said.
English-born Mr Hadley completed high school and university in WA before moving to Queensland. He spent nearly 10 years with CUA in Brisbane in various management roles, including sales and distribution, member relations and operations.
In his LinkedIn entry, he describes himself as “commercially astute and highly analytical with an innate ability to rapidly understand and act on the drivers of financial performance” and as a “proven people leader”.
Mr Hadley, 43, will take on an organisation undergoing generational change after conversion to a mutual bank eight months ago.
P&N hopes its branding overhaul will broaden its appeal to a younger demographic.
P&N recently announced a 42 per cent rise in annual profit to $13.1 million as increased deposits, lower charges for bad debts and higher profits from its property portfolio offset flat loan growth.Underlying profit, excluding property gains, rose 9 per cent to $12.1 million.