Bendigo and Adelaide Bank appoints new Managing Director and Chief Executive Officer

The Board of Bendigo and Adelaide Bank Limited today announced it had appointed Mike Hirst as Managing Director and Chief Executive Officer to succeed Rob Hunt, effective 2 July 2009.

Key details of his employment agreement will be released to ASX following finalisation of its terms.

Mike Hirst

Mike Hirst, aged 51, currently holds the position of Chief Executive Retail Bank and has overall responsibility for the Bank’s retail business, group solutions and treasury.

He previously held the positions of Chief Operating Officer, responsible for the Group’s retail banking business and product and service delivery. He joined the Bank in July 2001.

Prior to joining the Bank he had worked for 11 years in senior executive and management positions with Colonial Ltd. During this time, his roles were General Manager Treasury, Treasurer Australian Financial Services, Head of Funding and Risk Management, Head of Financial Markets, Head of Marketing & Sales Treasury and Head of Finance & Operations Treasury. He also worked in senior roles with Chase AMP Bank for three years and with Westpac for seven years.

Mike has extensive experience in banking, treasury, funds management and financial markets. He previously held directorships with Colonial First State Investment Managers and Austraclear Ltd.

He is a director of the Bank’s joint venture company Elders Rural Bank Limited, a director of Treasury Corporation of Victoria, Barwon Health and many of the Group’s subsidiary companies.

Mike holds a Bachelor of Commerce, University of Melbourne and supports Geelong Football Club.