Heritage Bank and People's Choice select new head of tech integration

The new bank formed from the merger of Heritage Bank and People’s Choice Credit Union has selected Penny Iverach to lead its IT integration roadmap.

Iverach joined the newly merged organisation this week and is expected to stay based in Newcastle, NSW while travelling between the two headquarters, Adelaide and Toowoomba, as needed.

The two financial institutions are merging to create “a new national mutual that acts as a counterbalance to the big national banks” by becoming the “eighth largest Australian domestic bank,” according to Heritage Bank CEO Peter Lock.

People’s Choice chief information officer Andy Weir joined the team just before Christmas last year as the future bank builds out its new leadership team.

Weir said Iverach would develop and lead the new organisation’s technology integration roadmap.

“With Heritage Bank and People’s Choice officially merging on March 1, one of the most important challenges we face now is bringing together the organisations’ technology systems to provide a first-class banking experience for our members and our people," he said.

“As well as significant delivery experience, Penny brings incredible enthusiasm, a passion for complex delivery and a strong member mindset."

Iverach said she considers herself “to be very fortunate to be appointed to the role of head of technology integration for these iconic brands” and to “be part of the next evolution of Heritage and People’s Choice.”

In a LinkedIn post, Iverach wrote she was “very excited by the challenge that lies ahead of me and for the opportunity to work with another talented team of professionals”.

Iverach joins after 15 years at Newcastle Permanent Building Society, which included a secondment to Greater Bank.

Newcastle Permanent Building Society and Greater Bank merged in March, under the new title, Newcastle Greater Mutual Group (NGM Group).

Iverach led Greater Bank’s digital transformation program as transformation portfolio manager for over a year-and-a-half.

It’s understood this role is being filled internally on a temporary basis while recruitment for a replacement is underway.  The temporary appointment could not be ascertained at the time of publication.

Before this, Iverach spent over 13 years with the customer-owned Newcastle Permanent Building Society bank, most notably as its IT digital transformation lead.