Suncorp chief executive steps down

financial-services-group/chief-executive/wealth-management-business/chief-financial-officer/

5 February 2009
| By Lucinda Beaman |

Suncorp’s long serving chief executive John Mulcahy is to step down after six years leading the banking and financial services group.

Mulcahy will continue to lead the group while it transitions to a new chief executive who is as yet unnamed.

Suncorp shares are now in a trading halt as the banking and financial services group prepares to join the list of companies taking part in a capital raising.

Mulcahy said he believes stepping aside was appropriate while the current capital raising was underway.

The group has also announced its preliminary results for the six months ending December 31 2008. Suncorp’s expected profit before tax and Promina acquisition items for the period is to be in the range of $470-$500 million.

Suncorp’s half-year results will be announced on February 24.

In other news, Suncorp has appointed a new chief financial officer in its wealth management business.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

2 months 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months 3 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months 4 weeks ago

ASIC has suspended the Australian Financial Services Licence of a Melbourne-based financial advice firm....

1 week 5 days ago

The corporate regulator has issued infringement notices to three AFSLs whose financial advisers provided personal advice to a retail client while unregistered....

2 weeks 3 days ago

ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test....

3 weeks 1 day ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND