ME Bank CEO calls time

Mr James Evans, Chairman of ME Bank, today announced that the Bank’s long serving CEO, Mr Jamie McPhee, has resigned.

Mr Evans said, “Jamie has made a significant contribution to the Bank over the last ten and a half years, transforming the scale and extent of ME’s retail offering to customers. ME has increased significantly in size and relevance, growing its customer numbers from 234,000 to 542,000, and its assets by 50% to almost $30 billion. Notably, ME has continued to achieve primacy in customer satisfaction, based on Roy Morgan¹ banking research.

“Importantly, Jamie has steered the Bank through significant change in the industry and the macro economic environment. Jamie leaves with our thanks and best wishes for the future.”

Mr McPhee commented, “In deciding to call time, I know the Bank is in a strong position financially and is well placed for the future, but that the industry challenges ahead and resulting need for change, will require a long-term commitment."

"After ten and a half years as CEO, I believe now is the best time to hand over the reins to give ownership of the Bank’s post-COVID strategy development and long-term execution to a new CEO."

“It has been a pleasure to have led such an outstanding team, one that really cares for our customers, and am pleased that the team's commitment and hard work has been recognised by the many awards received for our products and services.”

Mr Evans commented, “Jamie has requested that his resignation be effective from the end of July, which the Board respects and has agreed to. The CFO, Mr Adam Crane, has agreed to take on the role of Acting CEO.”

Mr McPhee commented, “After ten and a half years at ME, I am looking forward to taking some time out before considering what I want to do next. The timing is right for me and it's right for the Bank.”

The Board will now commence a process for the appointment of a new CEO.