CEO Message September 2019

Tuesday 3rd September 2019


2019 Update: A message from the CEO

We’re more than halfway through 2019 and it continues to be an exciting year for the Bank of Sydney family. As always, our focus remains the same: to provide customers with competitive products and a unique banking experience, and it’s through your support that our offering keeps growing and developing.

The global economy is experiencing interesting times, marred by trade wars that have a trickle-down effect on most nations. In Australia, we’re pushing into second gear with back-to-back interest rate cuts to strengthen investment activity and kick-start consumer spending.

Despite the changing economic climate, we at Bank of Sydney are staying true to our goals and to our commitment to your home, your business and your future. Since day one we have chosen to work closely with the communities we serve, understand their needs and meet their expectations and aspirations – it’s just how we’ve always operated. You remain our main focus and helping you make the most of life continues to be in the key driver of our strategy. In line with our strategic objectives to grow, but also to keep our promise, we’ve materially passed on both rate cuts to our home lenders so you can achieve greater value as you strive towards your financial goals and get to where you want to be. We’re with you all the way!

As part of our continual focus on the customer, 2019 has been all about providing a more holistic experience. That’s why we’ve also invested in a broader digital platform to reach you on an even larger scale. Our branches and internet banking services have been complemented by pop-ups and smart branches. We are also transforming our entire branch network to be closer to you, so keep an eye out for a Bank of Sydney smart branch – we are coming to a location near you.

We always promise to be competitive with our financial products and services, but that also extends to our people. So we can’t help but say a big thank you to our people who make Bank of Sydney truly great. We are delighted to be able to recognise the contributions of our high-performing staff and top achievers at our Annual Awards events. The success journey of both our team and our customers are firmly connected, and I am very honoured to have an exceptional team who cherish our core values, our culture and our customer-centric approach in their everyday dealings. We look forward to celebrating more achievements and success stories!

We’ve never stopped investing in our people, and in line with this we are pleased to announce the appointment of Bill Kalpouzanis as Bank of Sydney’s new Chief Operations Officer and Chris Chew as our Chief Technology Officer.

Bill brings with him 20 years of banking experience in executive roles, as well as invaluable knowledge and expertise about the rapidly-evolving banking sector. His leadership and hands-on experience in Banking, Transformations, Stakeholders Management and Program Management roles will assist in building and retaining top-performing, cross-functional teams that drive change.

Chris has extensive experience in various IT leadership roles in banking and financial services, with a 20-year track record in achieving business outcomes. He will focus on the development and execution of our Digital Strategy, which will enable and deliver our business strategy.

Bill and Chris will also work together with the rest of our team on strengthening our Risk Culture and Governance processes.

On a community level and in line with our Corporate Social Responsibility initiatives, we are so proud to offer our ongoing support for worthy events and festivals. Two major highlights in June were the FSHD Sydney Chocolate Ball as well as the Share with Africa Dinner. We also look forward to this year’s White Pearl Ball and the Annual Hellenic Chamber of Commerce and Industry Excellence Awards. Both events have a special place among the Bank of Sydney family.

Finally, I’m very pleased to report that work on our new headquarters in the heart of Sydney – 62 Pitt Street – is progressing well. Our flagship CBD branch will open its doors to customers in the second half of 2020.

We are so thankful to you, our loyal customers, for continuing to bank with us. There are many exciting times on the horizon, and Bank of Sydney will always be here for whatever you need.

Miltos Michaelas

CEO, Bank of Sydney

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