Bancassurer Suncorp Group has revealed it is expecting to take a $133 million hit from COVID-19, confessed to underpaying its staff to the tune of as much as $70 million and announced the surprise resignation of the recently appointed CEO of its banking and wealth arm.

The Australian Financial Review understands the former boss of NAB's digital only-arm UBank has jumped ship to take up a role with controversial buy now, pay later firm Afterpay. The exact nature of the role is unknown.