Patrick Farrell has begun his new role as Suncorp Head of Investments, replacing Nick Basile, who retired after three years in the role.

For the past seven years Mr Farrell has been CIO and head of Advance Asset Management at BT Financial Group.

He also previously spent more than a decade working with insurance industry investments.

Mr Farrell will report to Deputy CFO Jeremy Robson.

“Patrick brings a wealth of experience to Suncorp, having worked in the financial services industry for nearly 30 years and managed insurance investment teams for more than 10 years,” Mr Robson said.

“He will be a great asset to the team and we look forward to the contribution Patrick will make to the organisation.”