Bank group names new CEO
Heartland Group Holdings has announced the appointment of Andrew Dixson as its new chief executive officer, subject to Reserve Bank of New Zealand non-objection, effective from October 1.
He is currently group chief financial officer, and will succeed Jeff Greenslade in the top role and be appointed a non-independent non-executive director of Heartland Bank Ltd.
Dixson, pictured, has been with Heartland since 2010 and been involved in all key parts of the company’s evolution, including the initial merger in 2011, New Zealand bank registration in 2012 and Heartland’s listing on the NZX and ASX.
He has played a critical role in the execution of several major strategic acquisitions, including the purchase of the Reverse Mortgage businesses in 2014, StockCo Australia in 2022 and Challenger Bank Ltd in 2024.
Greg Tomlinson, Heartland chairman, says Dixson’s appointment reflects the evolution of the business since Heartland Bank’s acquisition of Challenger Bank – subsequently rebranded to Heartland Bank Australia.
“The board is confident in Andrew’s ability to lead Heartland in the next stage of its journey,” he adds.
“This next stage will be focused on capital allocation and an improved return on equity, of which Andrew has proven his leadership in shaping Heartland’s funding strategy in both countries, and through his involvement in complex structured finance transactions and a number of successful material capital raises.”
Greenslade indicated to the board in April this year his intention to step down from his role as Heartland CEO by the end of this year.
The company notes Dixson’s appointment enables a handover to be completed sooner, allowing Greenslade to retire from his role and all Heartland directorships on September 30.
As part of a management restructure, the group chief financial officer role will not be replaced and the deputy group CEO post has been disestablished. The latter means Chris Flood will finish with Heartland on October 31.
Flood joined Heartland through a predecessor entity in 1997 and has held a number of senior management positions at the group, including as CEO of Heartland Bank before he was appointed deputy group CEO in August 2022.
His achievements include leading the motor finance business during Heartland's establishment in 2011, the integration and growth of Heartland's Reverse Mortgage businesses in New Zealand and Australia, the development of Heartland Bank's livestock and asset finance divisions and the development of the Australian livestock finance business following the StockCo Australia acquisition.
Tomlinson says: “On behalf of the board, I would like to express our sincere thanks to Chris for his service to Heartland and acknowledge the value he has created for our shareholders. We wish him all the best in his next endeavours.”
