Suncorp CEO Banking and Wealth David Carter will take on the group CEO role at RACQ.

He replaces Ian Gillespie, who is retiring after 13 years in the role.

Brisbane-based Mr Carter will transition to RACQ in the first half of 2020 after Mr Gillespie finishes at the end of December.

RACQ, founded in 1905, now has almost 1.8 million Queensland members in more than 70% of the state’s homes.

The company says in a statement that Mr Carter’s experience across both banking and insurance, as well as his strong connection to Queensland, made him the ideal fit for the role.