Non-major bank CEO resigns

by NZ Adviser21 Dec 2016
The Co‑operative Bank has announced its chief executive officer Bruce McLachlan has resigned and will take up a leadership position with another New Zealand business.

McLachlan will remain as CEO until a date yet to be agreed in early 2017 and the Board will make a further announcement regarding the succession plan in due course, the bank said in a statement.

Chairman Steven Fyfe said that McLachlan had been an exceptional leader to the bank since he commenced the role in 2012, not long after the bank gained its banking license. 

“Bruce has led the Bank with distinction, flair and skill and elevated both the market and financial position of the Bank,” said Fyfe. 

“Everyone at the Bank wishes Bruce every success with his new appointment.”

The Co-operative Bank’s net loans had reached $1.97 billion as at Nov. 30, up from $1.8 billion a year earlier, with deposits of $1.91 billion, up from $1.79 billion in 2015, according to BusinessDesk.

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