Bank of Queensland CIO leaves for NZ

Bank of Queensland this morning confirmed a report (PDF) that its group executive IT and operations Jim Stabback has decided to leave the company, heading off in March to start a new role at Westpac NZ as general manager.

Stabback joined the bank in 2008 from the ranks of Telstra, with a mandate to oversee the bank's IT platforms and service delivery while watching the bank's outsourcing contracts with HP and Fiserv. He had previously held positions in the Commonwealth Bank, Westpac and EDS (now HP Enterprise Services).

In 2009 he was charged with fighting a war on cost in the bank, and asked to find $50 million in savings. The first $20 million had been achieved via a restructure, with the remaining $30 million expected to come from reducing spending, rationalising suppliers and reducing data storage costs.

Bank of Queensland chief operating officer Ram Kangatharan told ZDNet Australia that his role would now be filled by an internal candidate, Chris Nilon, who has worked closely with Stabback over the last few years.

"Jim is leaving BoQ to take up a position in New Zealand and we wish him all the best on his Kiwi adventure," he said in a statement.