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BOQ overhaul continues with new CFO hire

Stuart Condie
Bank of Queensland has combined its chief financial officer and chief operating officer roles

Bank of Queensland has appointed former NAB executive Ewen Stafford as chief financial officer and chief operating officer, continuing the overhaul at the top of the regional lender.

BoQ chief executive George Frazis, who joined the bank last month, hired Mr Stafford from Deloitte, where he was a partner in the firm's consulting practice focused on strategy within banking and capital markets.

Mr Frazis said the skills acquired by Mr Stafford over a 30-year career in which he has also been NAB executive general manager finance, Australia Post chief operating officer and Telstra deputy CFO meant BoQ could combine the chief financial officer and chief operating officer roles.

"He brings more than 30 years' of corporate experience across finance, operations, strategy and has also delivered complex transformation programs," Mr Frazis said.

"He will undoubtedly be a great asset during BoQ's own transformation."

Current CFO Matt Baxby announced in June that he will depart shortly after BoQ's full-year results announcement on October 17.

Deputy CFO Racheal Kellaway will act as interim CFO until Mr Stafford arrives at a date yet to be determined.

Former St George CEO Mr Frazis has already appointed former Westpac chief product officer Peter Sarantzouklis to head the business bank at BoQ, which will also change chairmen after next week's results.

Patrick Allaway will replace the retiring Roger Davis, who has been chair since May 2013.