(Reuters) – Financial institution of Queensland has appointed Government Chairman Patrick Allaway as its chief government officer, the corporate mentioned on Monday.

Allaway will step down as chairman and can function CEO and managing director, efficient Monday, till the top of 2024.

The native lender was left in management turmoil after former CEO George Frazis, who was beforehand a Westpac government, exited the financial institution in late November 2022 in a shock transfer.

“Allaway’s appointment will present stability and continuity throughout this era, enabling the administration workforce to proceed delivering the corporate’s priorities,” the regional financial institution mentioned in an alternate submitting.

A search course of for a long-term chief will proceed whereas Allaway, who has served as a non-executive director for a number of corporations, runs the financial institution over the subsequent 21 months

Former funding banker Warwick Negus, who has served as a director on the financial institution since 2016, will succeed Allaway as chairman, the corporate mentioned.