Heartland endorses Leanne Lazarus for bank merger CEO

• Heartland Group confirmed panel endorsement of Leanne Lazarus as designated CEO for TSB Heartland Bank.
• Heartland shares traded unchanged at $1.02 following the announcement.
• The move aims to support leadership continuity during the proposed merger with TSB Bank.

Heartland Group (ASX:HGH) confirmed that its establishment panel endorsed Leanne Lazarus as CEO designate for the proposed TSB Heartland Bank.

The decision comes as the business works to merge Heartland Bank with TSB Bank following a proposal to acquire all TSB shares from Toi Foundation.

"Leanne is well placed to lead the next phase of the merger, bringing the two banks together thoughtfully, supporting our people and customers through the transition, and drawing on the strengths of both organisations to achieve successful integration and future growth," said Establishment Panel Chair Bruce Irvine.

The company stated that the merger remains subject to shareholder agreements, regulatory approvals, and a non-objection from the Reserve Bank of New Zealand.

Following the announcement, the Heartland Group Holdings share price was unchanged at $1.02.

The joint establishment panel consists of directors from both institutions, including Heartland Chair Bruce Irvine and TSB Director Mark Darrow.

Both banking entities will continue operating as separate brands under existing management until formal regulatory clearances and transaction steps are complete.