SYDNEY, AUSTRALIA: The Board of Auswide Bank Ltd (ASX: ABA) announced the appointment of highly experienced banking and financial services executive, Mr Doug Snell as the Company’s new Managing Director and Chief Executive Officer.

The appointment of Mr Snell, who has previously held leadership roles with Westpac, Commonwealth Bank and BOQ follows a comprehensive and thorough recruitment process initiated after Auswide Bank’s long-serving Chief Executive Officer and Managing Director Mr Martin Barrett announced his retirement in April 2023.

Mr Snell has a successful professional career spanning 25 years in domestic and international financial services and is currently the Chief Executive Officer of StockCo, a niche financial services company which provides livestock finance solutions. Mr Snell has been instrumental in reinvigorating the business strategy with a focus on increasing profitability through funding and yield management while improving business process and operations and the development of staff across Australia and New Zealand.

Previously, in his role of Acting Group Executive for BOQ corporate banking business, Mr Snell held balance sheet responsibility and oversaw total assets under management of approximately $27b. Whilst he was a General Manager for BOQ Business, he held the responsibility for four business units, including BOQ Specialist which had $4b in retail lending (mortgages) to niche markets. During his career with BOQ Mr Snell played a key role in the delivery of major digital transformation projects, including the Financial Markets Digital project and National Payments Platform project.

Auswide Bank’s Chair Sandra Birkensleigh said: “Mr Snell is a very strong, capable and inclusive leader with deep banking and financial services experience.

We are looking forward to the next chapter under Mr Snell’s leadership and, on behalf of my fellow Directors, we welcome Mr Snell to the Board and look forward to working alongside him in the years ahead.”