Former Reserve Bank chief Bernie Fraser is stepping down as ME Bank chairman, effective immediately, and will be replaced by current director, Garry Weaven.
Mr Fraser joined ME Bank in April 2000, when the organisation was only six years old and operating as a simple securitised mortgage provider, the bank said in a statement on Friday.
Over almost 15 years with the organisation, he'd built it "into one of Australia's fastest growing regional banks", the statement said.
"Mr Fraser has provided a depth of banking knowledge and experience unrivalled in the Australian business community," the bank said.
"He has overseen the transformation of ME Bank into a rising force within the banking industry, and one much loved by its fast-growing base of customers."
