Former CBA exec joins Suncorp as new CIO

Adam Bennett will be responsible for driving the group's technology and digitisation strategy.

Suncorp Group has announced the Commonwealth Bank of Australia's (CBA) former business and private banking group executive Adam Bennett as the company's new chief information officer (CIO).

Bennett finished up at CBA at the end of January to "pursue the next phase of his career". He was appointed to the executive team back in 2014 by then-CBA CEO Ian Narev.

Bennett initially joined the bank as part of the group technology unit in 2004, and was the chief information officer for the retail banking and business banking divisions during the core modernisation project. Bennett then went on to join the private banking leadership team in 2009, and became the executive general manager of the local banking business in 2012.

At the time, Narev said Bennett's experience in technology was going to help build on the Commonwealth Bank's investment in technology.

Suncorp Group CEO Steve Johnston said Bennett's former experience in both technology and commercial roles will help guide the group's strategic technology and digitisation strategy, including automation and data initiatives.

"Technology is pivotal to delivering our group strategy and the operational, product, and customer opportunities we are seeking. I am confident Adam's deep experience equips him well to deliver significant value," he said.

The group has been on the hunt for a CIO replacement since March when then-CIO Sarah Harland announced she was leaving after four years with the company.  

Bennett will start his new role at Suncorp on 1 July 2020, subject to regulatory approval.

During the latter half of the 2020 financial year, Suncorp achieved net profit after tax of AU$642 million to 31 December 2019, up nearly 157% from the same period last fiscal year where it recorded AU$250 million.

OTHER SUNCORP COVERAGE

How Suncorp was able to build an app in a year

Suncorp's enterprise architect discusses the processes that enabled the organisation to build an app and its underlying infrastructure in 12 months.

Suncorp ditches marketplace strategy as insurance profit drops 14%

It also paid AU$155 million in regulatory and customer remediation costs in response to the Royal Commission.

Suncorp spent AU$29m on tech in year of reshaping

Suncorp spent FY18 reshaping its organisation, posting AU$1 billion in after-tax profit while delivering major pieces of infrastructure and technology.