Suncorp Group has revamped its executive leadership team after closing the $4.9 billion sale of its banking arm to ANZ yesterday.

It says the changes will “support its future as a dedicated trans-Tasman insurer” and will take effect on September 2.

Group executive for completion and transition Belinda Speirs will take the newly created role of chief executive of people, legal and corporate services, based in Brisbane.

“This brings together Suncorp’s people and culture, legal and secretariat, procurement, partnering and real estate functions,” the company said today.

Group executive for technology and operations Adam Bennett will take responsibility for delivery of the transitional services agreements (TSAs) made with ANZ to provide services to Suncorp Bank. 

Suncorp says as a result of the changes, group executive for people, culture and advocacy Fiona Thompson will leave later this year. She has held several senior roles since joining Suncorp in 2001, including chief risk officer, and has been a member of the executive leadership team since 2016. 

CEO Steve Johnston says the “smaller” executive team and changes suit Suncorp’s new era as a pureplay insurer.

“The changes also reflect legislative amendments made by the Queensland parliament through the Metway Merger Act as part of the bank sale, and our requirements to deliver on the TSAs with ANZ,” he said.

Mr Johnston says Ms Speirs is well placed to lead in her new role, having worked across a range of corporate functions since joining Suncorp in 2013, including as group general counsel.

“I would also like to take the opportunity to thank Fiona for her extraordinary leadership, significant contribution and dedication over her 23 years with Suncorp, and I wish her well in the future,” he said.