Commonwealth Bank has hired Gavin Munroe, HSBC’s global chief information officer, wealth and personal banking, as its group executive technology and group chief information officer. Munroe will take over from Pascal Boillat, who has been at the bank since 2018 and now wants to return to the Northern Hemisphere to be close to family. Munroe has spent 20 years working in financial services technology. Prior to HSBC he was with Bank of America Merrill Lynch.

 

SME lender Propell Holdings has increased its wholesale funding facility by 50 per cent to A$7.5 million. The facility is funded by Altor Capital Management. Propell was launched in 2020, and has 2150 customers on its platform with average loan size of around $20,000.