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Cuscal announces changes to Executive Leadership Team


Sydney, 16 February 2024

Cuscal Limited (Cuscal) confirms that after ten years with the business, Bianca Bates has resigned from her role as the Deputy CEO at Cuscal to take on a new position at Smartgroup Corporation Limited (ASX: SIQ).

Bianca held many positions within Cuscal over her tenure and led Cuscal’s operating model’s transformation, client base diversification, and successful investment in new technology and products.

Craig Kennedy, Managing Director at Cuscal, said:

In the past ten years, Bianca has played a significant role in our growth trajectory. We thank her for her outstanding contribution to Cuscal and wish her the very best in the next chapter of her career.

Bianca will remain in her current role as Deputy CEO for Cuscal until the end of the financial year. She will be integral in recruiting a new Chief Client Officer, which will commence immediately.

Cuscal also announced that Angela Powell has commenced as Cuscal’s new Chief Risk Officer, bringing over 20 years of experience in banking and financial services both domestically and internationally and expertise in risk management, governance, regulation, operational excellence, and strategic transformation.

Cuscal hits female leadership targets

Cuscal's female leadership with MD Craig Kennedy

A gradual increase in the number of senior female appointments in recent years has helped Cuscal to hit its target of 40% of senior leadership roles to be held by women.

In May this year Helen Mediati, Cuscal’s General Counsel and Company Secretary was appointed to Cuscal’s Leadership Team. This followed the appointment of Bianca Bates to the role of Chief Client Officer, earlier the same month. Cuscal’s Managing Director, Craig Kennedy, says it has been a deliberate part of Cuscal’s long-term strategy:

“Cuscal is a payments company which straddles the worlds of technology and banking, both industries which struggle with gender diversity and female leadership.

We knew that having greater gender balance in our leadership would help make us a stronger, fairer, better company, so we have been working towards a goal of greater senior female leadership for a few years now. Three out of seven of my Leadership Team are now women (43%) and this ratio is consistent throughout leadership positions at Cuscal.

We know there’s still some way to go, for example our diversity at Board level isn’t what we would like it to be, but we’re pleased to hit this target and now need to maintain or improve it.”

Cuscal has employed a range of initiatives to improve diversity, female employment and leadership at Cuscal which include:

  • Creating a Women’s Initiative Network three years ago and then a Diversity and Inclusion Council
  • Mandating that recruiters include at least one suitably qualified female applicant for each role
  • Trialling blind resumes in the project and technology division
  • Reviewing our flexibility policies to ensure consistency in application
  • Extending paid paternity leave from one week to four weeks.

As of May 2018, Cuscal’s ratio of male/female employees was:

  • Board: 13% female, 87% male
  • Leadership Team: 43% female, 57% male
  • All employees: 40% female, 60% male

Pictured L to R: Bianca Bates, Craig Kennedy, Helen Mediati, Christie Welsh