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Media Release

Paul Gabb, Chair of Police & Nurses Limited* (PNL) will retire at the organisation’s AGM in November after seven years in the role.

Deputy Chair, Stephen Targett, has been elected by the PNL Board of Directors as Chair-elect. His term will become effective at the AGM on 18 November 2020.

Formerly Chair of Bananacoast Community Credit Union Ltd (bcu), Mr Targett was appointed Deputy Chair of Police & Nurses Limited in November 2019 upon the successful merger of bcu and P&N Bank.

On announcing his successor, Mr Gabb said that Mr Targett is a highly credentialled financial services executive and non-executive director.

“Stephen will bring a wealth of experience to this role alongside a strong skillset in governance, strategy, transformation, mergers and acquisitions. He’s held Divisional leadership roles within large global banking organisations such as National Australia Bank, Lloyds TSB and ANZ Bank and was the CEO responsible for the successful merger of RACQ and QT Mutual Bank to form RACQ Bank.

Reflecting on his time as Chair, Mr Gabb said that he was very proud to have led the PNL Board through a significant transformative period in the organisation’s history.

“With the merger of two proud and successful customer-owned banking brands late last year and the imminent implementation of our new strategic plan, I have absolute confidence that our Board and Executive will continue to transform and grow our organisation on behalf of our customers,” Mr Gabb said.

“I look forward to working closely with Stephen over the next six months to deliver a smooth and effective transition and am very confident that Police & Nurses Limited, our P&N Bank and bcu brands, our customers and our people will be in capable and safe hands.”

Image of Steve Targett

Stephen Targett, Chair-elect