Nesbitt leaves Suncorp strategy overhaul to his successor
Suncorp Bank chief executive John Nesbitt has announced his retirement and will leave the bank by the end of the year.Nesbitt joined Suncorp as chief financial officer in 2010. He took over the banking division in 2013 and added the wealth business to his responsibilities this year.Nesbitt's departure comes as Suncorp Group chief executive Michael Cameron, who has been in the job since last October, introduces a new business model.Part of the change involves merging banking and wealth and combining all "platforms", including bank branches, under the control of a new "chief executive customer platforms."Cameron told analysts at the group's half-year results presentation that he wanted the group to offer services modelled on Apple's iTune's platform.The strategy was outlined in more detail at an investor day last month."Customers will be able to buy any component of any product they want. We will be including products and services from third parties, which is something we have not done before," he said.