Wayne Evans, ex-CEO of its subsidiary Finance Now, named new CEO of SBS Bank

Wayne Evans, ex-CEO of its subsidiary Finance Now, named new CEO of SBS Bank
Wayne Evans

SBS Bank says Wayne Evans, who was until recently CEO of its finance company subsidiary Finance Now, will succeed long serving departing CEO Ross Smith.

Smith retires on July 31 after 22 years in the job.

In a statement SBS chairman John Ward said Evans had been appointed following a "highly contested process."

Ward said Evans' has wide ranging industry experience, strategic insight and leadership capability.

“The financial services industry is evolving at a rapid pace, placing opportunities and challenges in front of us. Wayne’s proven financial services background in retail networks, IT, and marketing will enable SBS to continue to be strategically positioned within the banking sector,” Ward said.

Evans co-founded consumer lender Finance Now with Phil Ellison, and was its CEO from 2000 until January this year. Companies Office records show he's a 5% shareholder in Finance Now having sold down from 15% last year. SBS last year increased its stake in Finance Now to 85% from 71.5%, and has put and call options through which it may lift this to 100% over five years.

Finance Now is described by SBS as "the $120 million consumer finance subsidiary of SBS Bank."

Evans was also CEO of GE Money between 1998 and 2000 and head of marketing at ANZ from 1995 to 1998. He worked as a projects manager at SBS from 1992 to 1995. He's also a director of  Candeo Employer Marketing Ltd, Kiwi Jobs Limited, and Lakes Leisure Ltd.

For his part, Evans said he felt excited and a little nervous at being handed the SBS reins.

"My predecessors have all proven to be talented, skilled leaders who have created an institution we can take great pride in. I fully intend to ensure that I continue this fine tradition," Evans said.

“Our priorities will remain focused on enhancing the experience and benefits that our members receive. Expanding our investment in IT, our channels and product development will be critical. Importantly, we have a very talented and passionate team already delivering industry best practices to our member owned bank,” added Evans.

He attended Southland Boys High, and did a Bachelor of Commerce (Accounting) at the University of Otago, plus a Massey University post graduate diploma in psychology.

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