Outgoing Bank South Pacific chief executive, Ian Clyne, during a press conference in Suva yesterday. Photo: RACHNA LAL
By RACHNA LAL
After serving publicly-listed Bank South Pacific as chief executive for almost five years, Ian Clyne will leave the bank at the end of the month.
Replacing him will be his deputy, Robin Flemming.
Mr Clyne was the brains behind BSP’s move to invest in the Colonial National Bank here and he drove the process.
He joined BSP in October 2008 and has successfully transformed it into a modern financial institution under his leadership.
Commitment to future
Mr Clyne, during a press conference in Suva yesterday, assured that BSP is 100 per cent committed to the future of Fiji and operating here.
“I firmly believe BSP has made a difference in banking in Fiji and Papua New Guinea.
“By BSP entering the Fijian market, it has put a whole lot of pressure on the other banks.
“Our strategy across PNG, Fiji and Solomon Islands will not change,” he said.
Banking industry here
And whilst Government and the Reserve Bank of Fiji is moving to add more competition in the banking industry, Mr Clyne feels the banking market here is overbanked.
“I do think the banking market is overbanked and there is a risk of too much regulation in the banking sector,” he said.
Mr Clyne said too much regulation could affect investment in technology.
“You have to be very careful when you start to cut fees and these things because there is a cost of developing technology,” he said.
“If you want to have these technologies come in, which in the end, to my view, will mean access to banking to greater numbers and clearly the regulation area is challenging in Fiji.”
Strategies remain
Mr Clyne’s departure will not mean any major changes to BSP’s continuing strategies.
“We have a very clear strategy and the board is really keen to continue the strategy we have had because this strategy has been very successful,” he said.
“So I don’t see any major changes and BSP will continue to look to improve its services in Fiji.”
Next stop
Mr Clyne who is a keen sailor, will sail back home to Perth, Australia. However, he says he would like to run another bank because of the challenges present.