MyState Limited is poised to extend its digital drive under a new boss it says has extensive digital banking experience.
New managing director and chief executive Brett Morgan's background includes divisional chief executive roles with Australian technology business Inloop and key executive roles at Australia's first digital bank, ING DIRECT.
Tasmanian-based banking and wealth management company MyState told the ASX Inloop developed and operated financial technology, data and digital marketplace businesses.
In MyState's recent annual report, chairman Miles Hampton said the company had sought to position its MyState Bank and TPT Wealth businesses "with market-leading products and services that reflect an increasingly digital world".
"That focus will continue with ongoing refinements planned in the 2022 financial year."
Mr Hampton said outgoing managing director and chief executive Melos Sulicich had transformed the business, sharpened its focus and created a platform for sustained growth.
MyState raised $55.5 million in May to underpin a strategy to drive faster growth.
Mr Hampton said Mr Morgan had been chosen after an extensive search process that included qualified and experienced bank leaders in Australia and New Zealand.
Sydney-based Mr Morgan is chief executive, banking and wholesale, for ASX-listed BNK Banking Corporation Limited.
He worked at ING DIRECT for 15 years.
"In 2012, Mr Morgan was appointed as country head banking, marketing and private clients at ING Vysya Bank in India, 40 per cent owned by ING Group, where he led a shift from product to a customer-led strategy with responsibility for 7500 staff," MyState said.
He returned to Australia for personal reasons in late 2014.
Mr Morgan's contract includes fixed remuneration of $625,000 per year including superannuation, plus short and long-term incentives.
He will start with MyState in January.