Community
28 November, 2023
New CEO for ‘old’ bank
PROUDLY in operation since 1899, Cairns Bank has a new Chief Executive Officer, Liam Tiernan, taking over the reins.
Operating for an extraordinary 124 years, for the last 18 years Peter Philips has been the General Manager, carefully helping to steer and grow this Cairns icon which is 100% owned by its customers.
This year marks the end of an era, with Peter deciding to retire from the role after a lengthy and much admired contribution to the bank’s ongoing success.
At the same time, it also marks the beginning of an exciting new chapter for Cairns Bank – the appointment of the new CEO.
Michael Wenzel, Chair of our Board of Directors, said “We welcome Liam to the Cairns Bank family and look forward to working with him on some exciting projects in 2024 and beyond”.
Liam brings a wealth of experience to the position, having worked in many facets of the customer-owned banking sector across the last two decades.
Liam’s banking experience extends all the way back to his hometown in Tasmania where his first job out of school was with the local branch of the Commonwealth Bank.
After more than 18 years with the Commonwealth Bank, Liam was looking for a new challenge – he found it with an exciting role at Bank of Us, Tasmania’s only customer-owned bank.
Liam then moved on to become the CEO of Dnister Ukrainian Credit Co-operative Ltd in Melbourne whilst also serving as the Executive Chair of the Small Australian Mutuals Network.
Working at customer-owned banks has allowed Liam to embrace his passions – helping people with their money and developing close relationships with the local community.
“I like the idea that the members actually own the organisation, so you haven’t got that compromise of purpose between shareholders on the one side and your customers on the other.”
Cairns Bank has embarked on a new digital strategy, aiming to offer more digital services to customers.
Liam, along with a newly appointed Chief Information Officer, Geoff Ryan, will lead this project.
Liam said he is a great believer in the personalised service that is at the heart of Cairns Bank.
He’s all about meeting people face to face, and seeing how Cairns Bank can continue to meet customers’ changing needs.
