Heritage Bank and People’s Choice Credit Union appoint new CIO for new bank finance strategy

A new bank created by the merger of Heritage Bank and People’s Choice Credit Union will have Andy Weir as chief information officer.

Weir is currently the CIO of People’s Choice Credit Union, a role he has held for the past six months. He will transition to leading technology for both companies in March 2023.

The two organizations will merge to create “a new national mutual to act as a counterbalance to the major national banks” and become “Australia’s eighth largest domestic bank”, according to Peter Lock, CEO of Heritage Bank.

The merged organization is expected to operate the People’s Choice and Heritage brands for some time before moving to a single new brand in 2024.

People’s Choice chief executive Steve Laidlaw said Weir has “established himself as an exceptional leader and strong advocate of our values ​​as a members-owned organization.”

“During an extensive recruitment process, he emerged as the ideal person to guide us through our next, critical phase – bringing our two IT systems and teams together,” said Laidlaw.

Weir added that he was “thrilled” to be stepping into the role “at such an exciting time.”

“The merger with Heritage will create a significant new major national financial services organization that represents a viable alternative to the big banks,” Weir said.

“Technology will be key to successfully executing our new organization’s strategy as we strive to create leading digital experiences for our members.

“While there is still much work to be done to bring our technology together, we will not only bring together existing systems, but also create new and improved technology platforms for the benefit of our members.

“It’s a fantastic challenge,” Weir said.

At this time, it is unclear what will become of Heritage Bank’s current CIO, Wayne Marchant, who has held the position for approximately six years.

“The organizational structure below senior management is being developed but is not finalized, so we cannot comment on further appointments at this time,” said a Heritage spokesperson itnews.

Both companies already share some common core system options and technology foundations.

Lock said the merger “will be a great IT marriage that will save the organization and its members significant money.”

He added that an “IT bridge” will be implemented between the two organizations’ systems to allow members to continue banking seamlessly.

https://www.itnews.com.au/news/heritage-bank-and-peoples-choice-credit-union-choose-new-cio-for-new-bank-589247?utm_source=feed&utm_medium=rss&utm_campaign=iTnews+ Heritage Bank and People’s Choice Credit Union appoint new CIO for new bank finance strategy

Callan Tansill

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