CFS appoints new group CEO

CFS said that after an “extensive global search”, it has appointed Clive van Horen as its group CEO, commencing on 15 January 2024.

Mr van Horen was most recently CEO of Suncorp Bank, having joined the bank in August 2020, before which he had been a senior executive at CBA across a number of executive leadership roles.

Rob Coombe, executive chairman of CFS Group, said it is the right time to appoint a group CEO to run the overall day-to-day business.

“Clive is a highly capable executive with a proven track record that has seen him deliver impressive customer and business outcomes in a variety of settings,” said Mr Coombe.

“I know that Clive will make a significant contribution to CFS and ensure we deliver on our ambitious transformation and growth plans.”

The business said that Mr Coombe will remain “closely engaged with the business” and will continue in his capacity as executive chairman of CFS Group until Mr van Horen commences in his new role on 15 January 2024, when he will transition to non-executive chairman.

Mr van Horen praised the significant progress that has been made in modernising and transforming CFS in recent years, saying that it has an exciting opportunity ahead of it.

“I’m thrilled to be joining CFS. Having worked alongside the business for many years during my time at CBA, it’s very exciting to see the huge strides that CFS has made in recent years under Rob’s leadership,” said Mr van Horen.

“The business has a vitally important purpose to help Australians achieve financial freedom and I am looking forward to helping CFS’ almost 1 million members and investors achieve their goals and aspirations.”

Mr van Horen's departure from Suncorp was announced earlier on Tuesday, with Suncorp Group CEO Steve Johnston acknowledging Mr van Horen’s role in executing the bank’s strategic plan to enhance performance over the past three years.

“Clive and his team have done an exceptional job in simplifying the bank and growing our home and business lending portfolios, particularly in what has been a complex and highly competitive market,” Mr Johnston said.

“They have also made great strides in delivering improved experiences for our customers as well as brokers.”