Goldfields BNKrs down brand

John Kavanagh Goldfields Money

It’s all change at Goldfields Money, which has a new name and an injection of new talent on the board.

The authorised deposit-taking institution has received regulatory approval for a name change to BNK Banking Corporation. Its Australian Stock Exchange code changed from GMY to BBC on March 20.

Former ING Australia chief executive Don Koch will join the board as a non-executive director in June.

The bank’s chief executive Simon Lyons said in a statement that the name change was part of the bank’s move to implement a digital strategy and a national offering.

The Goldfields brand will be maintained for now, while the bank prepares for the launch of its digital banking brand later this year.

The bank also has an aggregation division, Finsure, which it acquired in September last year. Finsure services more than 1500 mortgage brokers and manages a $36 billion loan book.