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ASB brings back three ex-staffers as executives; One as CFO, and two to newly created positions

ASB brings back three ex-staffers as executives; One as CFO, and two to newly created positions

ASB has appointed three new executives - all of whom have previously worked for the bank - including a new chief financial officer to replace Shayne Bryant who is returning to parent Commonwealth Bank of Australia.

ASB says Jon Raby will be its new CFO with Bryant finishing his secondment from CBA.

Raby has previously held several senior finance roles at CBA, including CFO of its retail banking and enterprise services. Before that he was general manager for finance and strategy at Sovereign Assurance and general manager for finance at ASB for five years until 2004. He has also worked for Countrywide Bank and United Bank.

Steve Jurkovich has been appointed to the new role of executive general manager of ASB’s commercial and rural division.

Jurkovich was formerly Westpac's northern region manager and head of SME strategy/sales management. He has also worked for CBA including as general manager for corporate financial services, and had eight years at ASB, firstly as legal counsel, as manager of strategy and ventures for the bank’s online division, and as retail head for ASB Securities.

CEO Barbara Chapman herself returned to ASB after five years at CBA last April. In Australia Chapman headed up CBA's human resources, sustainability, marketing and communications operations. In the previously 12 years at ASB she held marketing, human resources and retail banking roles, and also served as managing director of the bank's insurer, Sovereign. Chapman has said ASB is targeting marketshare growth in the rural lending market.

Meanwhile, ASB has appointed Blair Turnbull to another new role, that of executive general manager for wealth and insurance.

Turnbull has worked for nine years in the insurance industry in Hong Kong and Singapore, including roles with Great Eastern Life as executive vice president and group advisor for strategy and projects. Turnbull also spent four years with AIA, ASB says, in senior strategic roles including heading up partnership distribution, plus business strategy and transformation. Another former role was eight years at AXA, based in both Hong Kong and New Zealand, in positions including head of business insurance and retirement, and head of wealth management. Prior to that Turnbull had four years with ASB as a marketing manager.

“We are very fortunate to have three individuals of such high calibre joining the leadership team at ASB,” Chapman said. “Jon, Steve and Blair are talented and experienced executives who bring with them tremendous knowledge gathered both here and abroad.”


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Why so many resignations ????

……or it could be something entirely different. At this point, we simply do not know. Regardless, something big is obviously happening in the financial world and the forces behind it are acting on information that the general public is unaware of.…


Anyone to check the maths please.

This looks a little like PR copy so I went back to the link that shows half yr result.…

Return on shareholders' equity rose to 21.2% from 17.2% in the June 2011 year,

return on total average assets rose to 1.2% from 0.9%,

Looks like the shareholders equity is leveraged up to 17.6 times (equates to an LVR of 94%). - was 19 times in the period before.

Workings: 21.2% divided by 1.2% = 17.6 times