The Customer Owned Banking Association (COBA) has today announced the appointment of Yasser El-Ansary as its incoming Chief Executive Officer. He will succeed outgoing CEO Michael Lawrence, who is retiring later this month after nine years of dedicated service to the customer-owned banking sector.
Mr El-Ansary brings over 30 years of strategy and leadership experience, including a decade as an executive in the financial services sector. He is the former CEO and Managing Director of the Financial Services Institute of Australasia (FINSIA) and the Australian Investment Council, the national peak body for private capital, including profit-for-member superannuation funds.
“With extensive experience leading member organisations and a deep understanding of the financial services sector, Yasser is well placed to advocate for a purpose-led banking model,” COBA Chair Elizabeth Crouch AM said.
“He brings a strong commitment to enhancing the profile and regulatory framework for customer-owned banks, a sector serving over 5.4 million Australians,” Ms Crouch added.
Mr El-Ansary’s appointment follows a comprehensive search process led by the COBA Board with the support of executive search firm Omera Partners. He will officially commence his role as COBA CEO on 2 November.
“I am honoured to take on the leadership of COBA and advocate for a sector that consistently puts customers and communities first. A key priority will be enhancing the regulatory environment and ensuring customer-owned banks are empowered to thrive as a competitive alternative in the market. I look forward to working closely with members and the COBA team to advance our strategy and seize new opportunities for the sector,” Mr El-Ansary said.
Mr Lawrence has been the CEO of COBA since December 2017, during a period of significant regulatory reform in the banking sector, including a Royal Commission into banking.
“Serving as CEO of COBA for the past nine years has been a privilege. Our sector has shown incredible resilience in expanding the reach of customer-owned banking, and I am deeply proud of what we have achieved. As I step down, I am confident that Yasser has the vision to help our sector thrive in its next chapter,” Mr Lawrence said.
COBA represents 47 customer-owned banks, including mutual banks and credit unions. The sector collectively serves more than 5.4 million Australians and has more than $200 billion in assets.
Customer-owned banks provide a distinct and essential alternative to the traditional investor-owned banking model, delivering value and purpose to people and the diverse communities they serve. As the leading voice for the sector, COBA works towards policy solutions that secure a competitive banking landscape.
ENDS
For further information, please contact Mira Palomäki on 0459 954 035 or media@coba.asn.au.
The Customer Owned Banking Association is the industry body for Australia’s mutual banks and credit unions. For almost 180 years, our sector has put customers first, returning profits to the 5.4 million Australians who put their trust in customer-owned banks.