BOQ Names Rod Finch CEO to Drive Next Phase of Transformation

Leadership Transition at BOQ

Bank of Queensland (BOQ) has announced a significant leadership change with the appointment of Rod Finch as Chief Executive Officer and Managing Director, effective 1 March 2026. Finch will succeed Patrick Allaway, who is retiring after a period of stabilising and strengthening the bank’s operations and financial position.

Finch, who has been BOQ’s Chief Transformation and Operations Officer since 2023, brings more than two decades of experience in the financial services sector. His background includes senior roles at AMP, Lloyds Banking Group, and Westpac, with a strong focus on customer experience, product innovation, and strategic transformation.

Continuity and Strategic Momentum

The appointment signals BOQ’s intent to maintain momentum in its ongoing transformation journey. Chair Andrew Fraser highlighted Finch’s leadership in digital transformation and operational uplift as key to ensuring continuity at a pivotal time for the bank. Finch’s deep involvement in BOQ’s strategy and transformation initiatives positions him well to build on the foundation laid by Allaway.

Patrick Allaway, who returned as CEO in 2023 to address regulatory challenges and lead the bank through a critical transformation phase, will retire on 28 February 2026. Under his stewardship, BOQ has enhanced its operational resilience, accelerated growth in its business banking segment, and largely completed the build of its digital retail bank, improving customer experience significantly.

Remuneration and Succession Details

Finch’s remuneration package includes a fixed annual salary of $1.5 million, with short-term and long-term variable components tied to performance. The short-term variable remuneration has a target of 75% of fixed pay, with a maximum of 94%, while the long-term variable remuneration can reach up to 140%, delivered as executive performance rights.

Allaway will continue to receive his normal remuneration until his employment ceases in August 2026, including pro-rated short-term incentives and retention of certain equity awards. The board exercised discretion to allow some of Allaway’s equity awards to remain fully on foot, reflecting his contribution to the bank’s turnaround.

Looking Ahead

Rod Finch expressed his commitment to leading BOQ into its next chapter, focusing on sustainable growth and improved outcomes for customers, shareholders, and communities. The leadership handover comes at a time when BOQ is navigating a competitive banking landscape, regulatory expectations, and evolving customer demands.

Investors and market watchers will be keen to see how Finch’s strategic vision unfolds and whether the bank can sustain its positive trajectory under his stewardship.