Brokerages upbeat on Bank of Queensland tapping insider as next CEO

Morningstar sees no wholesale change in strategy after Bank of Queensland BOQ.AX CEO Patrick Allaway steps down

Regional bank on Wednesday announced current chief transformational officer Rod Finch to take over as CEO

Investment research firm says Allaway's position was never expected to be long-term, after stepping in from his chair role to address regulatory issues and poor operating efficiency

Adds Finch played a role in setting current strategy, which included converting owner-manager branches to corporate branches, hiring more business bankers and cutting operating costs

Citi says co has achieved a "strong combination" of favourable timing and internal succession in its CEO announcement

Brokerage says investors should expect a high degree of continuity in the transformation program with Finch's appointment

In our view, this is sensible timing as it allows sufficient 'clear air' for new management to progress and own the next leg of strategy as the business model continues to evolve - Citi

Stock fell 2.5% in 2025