SBS Bank Chief Executive to Retire from Role

8 April 2014
MEDIA RELEASE

SBS Bank Chief Executive to Retire from Role

SBS Bank today announced Ross Smith, will be retiring from the role of Chief Executive at the end of July.

SBS Chairman John Ward said Smith’s decision to retire, would bring to a close a remarkable career of 22 years of continuous service to the business and its customers.

“As the longest serving Chief Executive of any New Zealand bank, Ross has been an invaluable member of the SBS Bank team. He has successfully managed the entity through challenging times and market transitions.

“The board is grateful for his innumerable contributions to SBS and his distinguished tenure as CEO over the past two decades,” said Ward.

Smith said whilst it would be difficult to leave, he was confident the timing was right to move on.

“I’ve been privileged to lead the first Building Society in the world to become a registered bank and after 20-something years as CEO, it’s time to move on and transfer SBS Bank’s helm to a new generation of leadership.”

Smith listed his proudest moments at SBS Bank as the launch of SBS’ subsidiary companies; Finance Now Limited, Southsure Assurance and Funds Administration New Zealand, gaining bank registration and the successful merger with the Hastings Building Society (now HBS Bank).

SBS’ Board of Directors are currently in the process of recruiting Smith’s successor.

ENDS

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