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Why BoQ’s chairman will become a Band-Aid CEO

Patrick Allaway says his shift to the CEO role will provide stability at a crucial time for banking. But the move also highlights BoQ’s missteps. 

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Patrick Allaway, the chairman of Bank of Queensland, says banks are essentially in the business of taking risks.

“So, we have financial risk, liquidity risk, we’ve got capital risk, we’ve got credit risk, and then we’ve got operational risks in everything we do. That’s our business,” he says.

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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
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    Original URL: https://www.afr.com/chanticleer/why-boq-s-chairman-will-become-a-band-aid-ceo-20230327-p5cvk8