The change of leadership at Bank of Queensland has done nothing to improve investor sentiment towards the bank, whose share price continues to languish. While bank stock prices rose an average of 3 per cent in April and diversified financials rose 3.5 per cent, the BOQ share price fell 10.5 per cent. It was the third worst performer in the S&P/ASX 200 Index last month. The stock is down 21.5 per cent over the 12 months to the end of April, while the S&P/ASX 200 is up 2.8 per cent over the same period, banks are down an average of 3.1 per cent and diversified financials are down 11.9 per cent. In November, the BOQ board dumped chief executive George Frazis, saying it had “formed a view that different leadership is now required.” BOQ chair Patrick Allaway took on the role of executive chair. Last month, the bank said it would undertake a three-year risk program to strengthen its non-financial resilience, acknowledging that “a material uplift is required in respect of BOQ’s operational resilience, risk culture and AML/CTF program and compliance”. A week later it released its results for the six months to February, reporting big write-offs, higher housing and business loan arrears, and below average mortgage growth. It flagged likely compression of its net interest margin in the current half-year. If Allaway was hoping to win more support from investors with the change of leadership, he will be disappointed.