Afterpay swoops on Suncorp exec Lee Hatton
High-flying buy now, pay later group Afterpay has swooped on Lee Hatton, the newly appointed chief executive of Suncorp’s banking and wealth management unit.
Ms Hatton, who was chief executive of National Australia Bank’s digital bank Ubank from 2015, will leave Suncorp at the end of May after starting in February.
In a Suncorp statement, she said she had reassessed the demands of commuting from her home base in Sydney to Brisbane, and the impact on her family.
“I have reached the conclusion that this will not be sustainable,” she said.
Ms Hatton will be replaced on an acting basis by Bruce Rush, Suncorp’s head of deposits and payments, until the appointment of a permanent replacement.
Afterpay shares are trading at a record of $42.98, up $3.10 or 7.8 per cent, on recent news that Chinese technology giant Tencent had paid $300m for a 5 per cent stake in the group.