RACQ appoints new Bank CEO

RACQ has today announced the appointment of Michelle Bagnall to the role of CEO of RACQ Bank.

RACQ Group CEO Ian Gillespie said he was delighted Ms Bagnall would join the RACQ executive team to lead RACQ Bank as it looked to rapidly expand its footprint in the financial services sector.

“Michelle is a highly regarded retail banking executive both here and overseas with more than 16 years’ experience and a strong track record in delivering customer focused outcomes,” Mr Gillespie said.

“Banking is the newest offering from RACQ and Michelle is the ideal person to have at the helm as we look to provide something different in the banking sector. Her drive, enthusiasm and ability to connect with people, combined with her success in delivering new banking products fits perfectly with RACQ’s strategy.”

Mr Gillespie said Ms Bagnall would replace outgoing RACQ Bank CEO Steve Targett who leaves in a planned transition after leading QT Mutual Bank through the merger with RACQ and its transition to the RACQ Bank brand in September.

Ms Bagnall said she was thrilled to join Queensland’s largest mutual.

“I’m incredibly proud to join the team at RACQ during such a time of growth for this trusted brand,” Ms Bagnall said.

“RACQ offers a customer-focused approach others could only dream of and I’m excited to join at a time when there are such amazing opportunities for growth and development of RACQ Bank.

“My career has been based on determining and delivering what the banking customer wants and needs and I believe the new RACQ Bank offers an unprecedented opportunity to carve out a new understanding of what good banking is in Australia.

“I watched with great interest the merger with QT Mutual Bank and the launch of RACQ Bank earlier this year and look forward to being a part of the next phase as RACQ Bank becomes a true alternative to the traditional banks.”

Ms Bagnall will join RACQ from Suncorp where she has most recently filled the role of Executive General Manager, Customer Journeys. Prior to Suncorp, Ms Bagnall spent time at NAB and in Europe with The Royal Bank of Scotland Group.

Ms Bagnall will take up her appointment in February 2018.