B&E appoints new Chairman

Thursday, November 24, 2011

B&E Personal Banking has welcomed in a new era with the appointment of well known Tasmanian business identity Lyn Cox as Chairman.

In accepting the position of Chairman, Mr Cox said he was honoured to be taking on the role given B&E's long and proud history (dating back to 1870) and the strong sense of ownership that more than 36,000 Tasmanians have in the mutual company.

"I think this is an opportune time for us as a Tasmanian member-owned financial institution to strengthen our market position as a serious retail banking alternative," Mr Cox said.

"Our conservative approach has ensured that our exposure to risk is minimal and that we are in excellent shape. Our financial performance in recent times has been very strong enabling us to invest in growth initiatives within Tasmania.

"This position is a tribute to outgoing Chairman, Keryn Nylander, and my fellow Directors," Mr Cox said.

"Moving forward, my intention is to continue with this sound and prudent approach, whilst at the same time building on the B&E profile, product offerings, technology positioning and partnership opportunities in order to grow our client base and ensure that Tasmanians continue to have a viable banking choice to the major banks.

"Our focus as a member-owned financial institution is on providing 'real' value for our members - a key point of differentiation in our industry which I believe we can effectively leverage off to build our market share," Mr Cox said.

A Chartered Accountant, Mr Cox has worked in public accounting from 1970 and was a partner of Deloitte from 1976 to 2007, including a period of 11 years as Managing Partner Tasmania, working in the assurance and advisory, risk assessment and governance areas.

Mr Cox has a Bachelor of Economics from the University of Tasmania, is a Fellow of the Institute of Chartered Accountants and a Fellow of the Australian Institute of Company Directors.

Mr Cox has been a Director of B&E Ltd since 2007.

Alongside this, he is a Director of the Tasmanian Development Board, State Councillor and immediate past President and a National Director of the Australian Institute of Company Directors and formerly State Chairman and a National Councillor of the Institute of Chartered Accountants.

He is also National Treasurer and a National Director of the Heart Foundation.