Talking Business With Alan Kohler

Queensland-based mutual Heritage Bank is defying both industry trends and a highly competitive market by announcing it will open two branches in Sydney – the first ever outside its home state.  Heritage is Australia’s largest customer-owned bank. Based in the regional city of Toowoomba, Heritage has 59 branches across southern Queensland, $10 billion in total consolidated assets and 800 staff members. Chief Executive Officer Peter Lock said the move into bricks and mortar in Sydney reflected Heritage’s desire to build its national footprint and its belief in the future of the branch concept. Peter has more than 30 years experience in the financial services industry, spanning insurance, institutional banking, business development, business banking and corporate banking. He has held senior management roles at the Bank of Melbourne, St George Bank, and the Commonwealth Bank, following a career with the National Australia Bank.