The Mutual Bank's long-serving chief executive officer Geoff Seccombe has announced his plans to retire after more than 30 years with the organisation.
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Mr Seccombe announced at the Mutual's 2022 Annual General Meeting on Thursday, September 29 that he had asked the board to start the process to find his replacement, as he officially signalled his intention to retire.
Mr Seccombe said it has been a privilege to be the CEO of the member-owned bank, working with some incredible board directors and team members over the years to help members achieve their goals.
"The Mutual Bank is embedded in Maitland's rich history, and I am so proud to have played a part in this organisation's story since the 80s," he said.
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"And I have loved hearing the members' stories, helping where we could during tough times and sharing in the celebrations and the wins."
He now looks forward to enjoying retirement with his wife Marilyn on their farm.
Mr Seccombe started his banking career with the Commercial Banking Company of Sydney (now NAB) in 1974.
In 1989 he joined the team of nine people at the Maitland Mutual Building Society which then managed assets of $20 million.
He was appointed CEO of Maitland Mutual Building Society (now The Mutual Bank) in 1994, and it has now grown to manage more than $1 billion in assets and employ 100 people.
Mr Seccombe has held various company director positions and has been involved in many local charitable and community organisations over the years.
Recently he was awarded both a Paul Harris Fellowship and a Paul Harris Sapphire Pin in recognition of his contribution to Rotary.
Mr Seccombe said he is confident The Mutual Bank is in safe hands for members well into the future.
"The Mutual Bank is led by an exceptionally qualified and professional board, committed and talented managers and a team whose very heart and soul is behind every success we have achieved," he said.
Mr Seccombe said he had seen remarkable changes in the banking industry and the Maitland and Hunter Region over his career.
Some of his highlights include introducing digital solutions for members' banking, putting people above profit, opening six new branches, achieving $1 billion in assets managed, successfully steering the organisation through the global financial crisis and COVID-19 pandemic.
He is also proud of moving the head office to Green Hills, obtaining authorised trustee investment status and achieving a financial grade investment rating of BBB with a positive outlook.
Chair of The Mutual Bank's board Steve Meyn said Mr Seccombe's shoes would be difficult to fill but the planned retirement would allow a seamless transition once the right candidate for the role is found.
"We have employed the specialist banking executive recruitment firm Amrop Carmichael Fisher to help us find the best candidate that aligns with our culture and our vision," Mr Meyn said.
"What won't change is the focus on our members who have always come first."
Mr Meyn praised Mr Seccombe's leadership over a period of growth for The Mutual Bank.
"Geoff is only our seventh CEO in our rich 134 year history and under his steady leadership we have achieved consistent, sustainable growth," he said.
