Heine lands as RAB chief

Ian Rogers

David Heine will be new chief executive of Regional Australia Bank, a choice that emphasises the distinctive strategy for the mutual bank.

Heine replaces Kevin Dupe from 1 July.

Heine was head of product at Cuscal before moving to Eftpos, first as COO then as CFO.

He then got his first CEO role as managing director of Cardtronics in Australia and worked most recently as executive general manager of Linfox Armaguard.

With around A$2.4 billion in assets RAB is at the smaller end of the mutual bank spectrum, but pursuing a unique growth strategy for the sector.

“We’re headed done the path of banking as a service and David is the right person to take us down that path,” Graham Olrich, the bank's chair told Banking Day.

Regional Australia Bank will spend “$2 million to get our settings right, and break even in year three,” he said of a strategy that will align the bank with many fintechs and place it in competition with Volt and Westpac.