Teachers Mutual Bank announces new CEO

Mr Hughes, who has held roles as the managing director, mortgages at Westpac and has also worked in senior positions at the Commonwealth Bank of Australia (CBA), National Australia Bank (NAB) and BT Financial Group, has today (17 October) joined Teachers Mutual Bank Limited as its incoming CEO.

The appointment came ahead of the retirement of TMBL’s long-serving CEO Steve James who will step down on 27 October after 18 years of service.

Making the announcement, Teachers Mutual Bank Limited chair Maree O’Halloran highlighted the incoming CEO’s extensive financial services experience and track record of delivering strong customer outcomes.

“Anthony’s extensive financial services and leadership experience, coupled with his strategic capability will be assets to our bank as we continue to work hard to service the needs of our members,” Ms O’Halloran said.

“His experience leading a diverse portfolio of financial service businesses and large-scale transformations put him in good stead to lead TMBL through our next growth phase.”

Mr Hughes said he was looking forward to his new role and to building on the bank’s reputation as a “world-leading, socially responsible bank”.

“I am focused on building on the history and mutual values of TMBL to support the financial wellbeing of our members, ensuring our members are always put first and that our service, products and digital banking offer continues to evolve as we strive at all times to be a bank for good, for those who do good,” Mr Hughes said.

Reflecting on the legacy of outgoing CEO Mr James, Ms O’Halloran added: “As our leadership at TMBL transitions, I would like to acknowledge Steve’s legacy and thank him for his unwavering commitment and dedication to the bank, its staff and members.

“Steve has been an integral part of Teachers Mutual Bank Limited shaping and maintaining the strength, security and sustainability of the bank.

“Our members can look forward to meeting the bank’s new CEO, Anthony Hughes, and to sharing their well wishes with retiring CEO, Steve James, at our AGM on Saturday 18 November.”

The mutual bank has been on a growth path recently, having acquired several credit unions – including Pulse Credit Union – in recent years.

[Related: Teachers Mutual targets brokers as merger wraps]