Bank First has today announced the appointment of Simon Terry as Chair Elect, succeeding Bernie Lloyd who is retiring from the Board after 13 years of service. 

Simon’s appointment is subject to being confirmed at the 2024 Bank First AGM on 21 November 2024. Bernie’s final board meeting as Chair will be the Annual General Meeting on 21 November 2024.  

Simon is no stranger to Bank First. He was first appointed to the board in 2018 and was re-elected in 2021 for a second three-year term. In March 2022, Simon resigned from our board due to conflicting work commitments. At the time, Simon said he would retain a keen interest in Bank First and when appropriate, would like to be considered as a future director. 

Simon was re-appointed to the board in September 2024 and will take on the role of Chair immediately following the AGM. 

Bank First CEO Michelle Bagnall said Simon’s return to the board would enable the next wave of the transformation program for this organisation as we work towards ensuring the sustainability of this bank for the Members of the next 50 years and beyond.  

‘Much has been achieved through the course of Bernie’s leadership of Bank First as Chair and I have been particularly grateful for her stewardship over the past three and a half years of my tenure as CEO,' Michelle said.

'The work of transformation continues and Simon’s experience and skill set are ideally placed to help shepherd the Bank into the future.  His passion for our Members and for the role of customer-owned Banks in our community is central in his leadership of Bank First,’ she said. 

Simon said it was an honour to follow Bernie Lloyd in the role of Chair who, during her directorship, steered this business through an unprecedented period in the bank’s 52-year history. 

‘History will record Bernie’s stewardship as one of great leadership. Bernie appointed the bank’s first female CEO, got us through a global pandemic and along with her fellow board members, signed off on the largest financial transformation program of work,’ Simon said.       

‘Bank First is in a very strong position and has done an enormous amount of work over the past three years to ready itself for the future. We are committed to serving healthcare and education professionals, especially in the times of their life when they need us most.                                                                                                                                                      

‘Our role as Directors and collectively as a Board, is to ensure that the Bank continues to deliver great value for its members and invest for a strong and sustainable future.  We are very excited about the possibilities of what’s ahead,’ he said.