New structure aimed at modernising SBS

New SBS Bank chief executive Wayne Evans in his Don St office, Invercargill. Photo by Allison...
New SBS Bank chief executive Wayne Evans in his Don St office, Invercargill. Photo by Allison Beckham.
New SBS Bank chief executive Wayne Evans has wasted no time stamping his mark on the organisation, announcing a restructuring of his executive team.

Three new positions have been created, including new marketing and digital roles.

Mr Evans, who took over at the beginning of August, said this week the primary aim of the restructuring was to modernise the 145-year-old organisation and ensure it was able to respond to a rapidly evolving competitive market and the growing expectations of customer members, much of that centred on ''contemporary technology'' such as online banking.

The restructuring, which he said was achieved without redundancies, resulted in the reappointment of four existing managers, the promotion of a fifth manager and the hiring of one new person. Advertising had begun to find a chief digital and IT officer.

He was not sure how long it would take to find that person.

''We are looking for scarce talent in a very critical role, so we need to take the time to ensure we get the person who is the right fit for the culture of the organisation, the right fit technically and the right fit strategically.

"We will be choosy and will take all the time we need to make sure we get to the right decision.''

Mr Jamieson's role would include marketing SBS's unique business structure, Mr Evans said.

Founded in 1869, SBS gained bank registration in 2008 and was understood to be the first building society in the world to do so, Mr Evans said.

But it still retained its mutual building society structure.

''This means our members are also our owners. We pride ourselves that we have something which is not driven by dividends - something which is actually driven by enhanced returns and benefits to our members.

"And we give back to the community - well over $1 million in grants and sponsorship annually.

''It's a great story, which to date I don't think we have sold very well.''

Mr Evans said the restructuring also included creating a ''pool of innovation'' involving all executive team members.

''We are not only looking at what is required today but the change required in five years' time and bringing that back into our thinking today.

''We are trying to shape ourselves and build a direction and a momentum to anticipate changes and be prepared for them.''

He said he hoped to see the executive team focus flow through the whole organisation.

allison.beckham@odt.co.nz

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