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The banking group has appointed a new group executive to lead its business bank.
The Bank of Queensland (BOQ) Group has appointed former UBS banker Julian Russell as group executive of its business bank.
He will begin in the role on 22 April, replacing former business banking chief Chris Screen.
Russell has extensive experience in financial services, having started his career at Merrill Lynch in Ireland before moving to UBS in Sydney, where he served as executive director.
At UBS, he also worked as co-head of the financial institutions group, leading M&A transactions and capital raisings for banks, insurers, and other financial services companies.
He joined car leasing provider FleetPartners as group CEO in 2019 and led the company through a “period of transformation” before leaving in 2023.
Speaking on the appointment, BOQ managing director and CEO Patrick Allaway said: “Julian is a seasoned executive with a proven track record in leading complex organisations through transformations and returning them to profitable growth.
“I am very optimistic about the future of the business bank under Julian’s leadership, building on BOQ’s record of delivering exceptional outcomes for our business customers.
“We have deliberately selected a non-traditional banker for this role. Julian’s finance and commercial background will bring a fresh perspective to optimising returns in increasingly competitive markets.”
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BOQ also announced the appointment of Paul Riordan as a non-executive director, effective 16 April 2025.
Riordan brings more than 40 years’ experience in financial services, having led both revenue-generating divisions and risk management functions.
He has held senior executive roles across major banking institutions, including as chief risk officer of institutional and business banking at Commonwealth Bank of Australia (CBA), and most recently group chief credit and market risk officer at National Australia Bank (NAB).
Riordan is an independent non-executive director at FINSIA (Financial Services Institute of Australasia).
His appointment will be voted upon by shareholders at the annual general meeting on 2 December.
BOQ chairman Warwick Negus said: “Paul brings deep expertise across corporate governance, risk management, financial markets, treasury and payments infrastructure to the BOQ board.”
The changes come as BOQ Group goes through a period of transition.
In August 2024, BOQ paused new home loan business from the broker channel and announced that it would cut hundreds of jobs as part of a major restructuring at the group.
Some parts of the business also drew criticism from the broker channel after failing to pass on the February cash rate cut.
The lender’s leadership has also undergone changes in recent years.
In 2023, the bank appointed Allaway, its executive chairman, as managing director and CEO, following the departure of the former MD and CEO George Frazis, who left the bank in 2022.
[Related: BOQ announces major restructure]
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