BOQ Makes its Move into Agribusiness With a new Appointment
BOQ is not wasting any time after flagging its move into the Agribusiness market last month, announcing the appointment of Doug Snell to the position of General Manager Business Banking and Agribusiness.
This follows the recent announcement that global agribusiness executive Richard Haire would be joining BOQ’s Board as non-executive Director.
BOQ said Mr Snell would lead its Business Banking and Agribusiness divisions, reporting directly to BOQ’s recently appointed Group Executive for Business and Private Banking, Agribusiness and Financial Markets, Brendan White.
The creation of the new Group Executive position and Mr White’s appointment was announced at BOQ’s recent market update and capital raising on 26 March, signalling BOQ’s strategic move into the agribusiness sector.
BOQ is moving fast to assemble its agribusiness team, headhunting Doug Snell, formerly the Commonwealth Bank’s (CBA) General Manager for Regional Commercial and Agribusiness Banking for Queensland and the Northern Territory.
For the past three years Mr Snell has also managed the Commonwealth Bank‘s national Specialised Agribusiness Solutions team focusing on the larger farm gate and post farm gate agribusinesses. Prior to these roles Mr Snell was the Head of CBA’s Global Markets businesses in Queensland, Singapore, Hong Kong and Shanghai.
“We are very pleased to have someone of Doug’s calibre join the organisation. His extensive experience and expertise across business banking, agribusiness and financial markets will help drive our strategic growth initiatives in these sectors,” said Mr White.
“His appointment reinforces the Bank’s commitment to rural and regional Australia, particularly in the Agribusiness sector and complements the strong Owner-Manager banking model already established in the local communities.”
Mr Snell said he was excited about joining BOQ. “Having worked with regional clients throughout Queensland and Northern NSW over the past few years, I have been extremely fortunate to have formed strong bonds and relationships, while also understanding their challenges and sharing their successes. I am excited to now have the opportunity to present the unique offerings of BOQ to business banking and agribusiness clients nationally.”
Mr Snell commences at BOQ on 15 May 2012.